FIS sees revenue decrease
13 February 2019 Jacksonville
Image: Shutterstock
Results from FIS鈥檚 full year report found that, on a generally accepted accounting principles (GAAP) basis, revenue decreased 2.8 percent to $8.4 billion from $8.6 billion in the prior year.
Operating income increased to $1.45 billion from $1.43 billion in the prior year, while operating income margin expanded 80 basis points to 17.3 percent, the results revealed.
FIS noted that net earnings attributable to common stockholders were $846 million for the year, or $2.55 per diluted share, compared to $3.75 per diluted share in the prior year, a decrease of 32.0 percent.
According to FIS, the prior period reflected a largely favourable adjustment due to tax reform.
For Q4 2018, On a GAAP basis, revenue was flat at $2,167 million from $2,166 million in the prior year quarter.
Operating income increased to $469 million from $431 million in the prior year quarter, while operating income margin expanded 180 basis points to 21.7 percent.
Meanwhile, net earnings attributable to common stockholders was $299 million for the quarter, or $0.91 per diluted share, compared to $2.77 per diluted share in the prior year quarter, a decrease of 67.1 percent.
The prior period reflected a largely favourable adjustment due to tax reform, FIS noted.
Of the results, Gary Norcross, FIS chairman, president and chief executive officer, said: 鈥淲e are very pleased with delivering full-year 2018 results exceeding both profitability and earnings expectations and meeting full-year revenue expectations.鈥�
鈥淥ur strong sales results in 2018 create positive momentum for 2019, and our ability to execute on our strategy is accelerating organic growth and creating sustainable value for our shareholders.鈥�
Operating income increased to $1.45 billion from $1.43 billion in the prior year, while operating income margin expanded 80 basis points to 17.3 percent, the results revealed.
FIS noted that net earnings attributable to common stockholders were $846 million for the year, or $2.55 per diluted share, compared to $3.75 per diluted share in the prior year, a decrease of 32.0 percent.
According to FIS, the prior period reflected a largely favourable adjustment due to tax reform.
For Q4 2018, On a GAAP basis, revenue was flat at $2,167 million from $2,166 million in the prior year quarter.
Operating income increased to $469 million from $431 million in the prior year quarter, while operating income margin expanded 180 basis points to 21.7 percent.
Meanwhile, net earnings attributable to common stockholders was $299 million for the quarter, or $0.91 per diluted share, compared to $2.77 per diluted share in the prior year quarter, a decrease of 67.1 percent.
The prior period reflected a largely favourable adjustment due to tax reform, FIS noted.
Of the results, Gary Norcross, FIS chairman, president and chief executive officer, said: 鈥淲e are very pleased with delivering full-year 2018 results exceeding both profitability and earnings expectations and meeting full-year revenue expectations.鈥�
鈥淥ur strong sales results in 2018 create positive momentum for 2019, and our ability to execute on our strategy is accelerating organic growth and creating sustainable value for our shareholders.鈥�
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