- Adjusted earnings increase 14 percent to $0.92 per share and 2009 guidance affirmed;
- Adjusted operating margin increases 110 basis points in the quarter;
- Free cash flow grows 9 percent year-to-date to $506 million
Brookfield, Wis., October 27, 2009 -PIN Payments News Blog- Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today reported financial results for the third quarter of 2009. The company announced the sale of its Loan Fulfillment Solutions business (“Fiserv LFS”) in the quarter. Accordingly, the financial results of Fiserv LFS are reported as discontinued operations for the third quarter of 2009 and for all periods presented. The transaction is expected to close in the fourth quarter of 2009 subject to customary closing conditions.
Total GAAP revenue in the third quarter was $992 million compared with $1.04 billion in 2008. Total adjusted revenue decreased 1 percent to $945 million in the quarter compared with $958 million in 2008. Total GAAP revenue for the first nine months of 2009 was $3.02 billion compared with $3.55 billion in 2008. Total adjusted revenue for the year decreased 2 percent to $2.86 billion compared with $2.91 billion in 2008.
GAAP earnings per share from continuing operations for the third quarter were $0.79 compared with $0.46 in 2008. Total GAAP earnings per share, including discontinued operations, were $0.74 for the third quarter compared with $0.48 in 2008. GAAP earnings per share from continuing operations were $2.21 for the first nine months of 2009 compared with $1.69 in 2008. Total
GAAP earnings per share, including discontinued operations, were $2.30 for the first nine months of 2009 compared with $3.08 in 2008.
Adjusted earnings per share from continuing operations in the third quarter increased 14 percent to $0.92 compared with $0.81 in 2008. For the first nine months of 2009 adjusted earnings per share increased 11 percent to $2.72 compared with $2.45 in 2008. Adjusted internal revenue declined 2 percent in the third quarter and the year to date. On a constant currency basis, adjusted internal revenue declined 1 percent in both the quarter and the first nine months of 2009 compared with 2008.
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