FIS Q4 Adj. Profit Misses View; Approves New $2 Bln Share Buyback

(RTTNews) - Fidelity National Information Services, Inc. (FIS) reported that its fourth-quarter net earnings attributable to stockholders declined to $71.9 million or $0.25 per share from $136.7 million or $0.46 per share in the same period last year.

The latest quarter's results include the previously announced charge for amended acquisition-related earn-out and incentive plan provisions related to Capco of $0.35 per share, acquisition-related purchase amortization of $0.13 per share, and international restructuring charges of $0.02 per share.

Adjusted net earnings from continuing operations attributable to stockholders was $222.0 million or $0.76 per share for the quarter, compared to $201.4 million or $0.68 per share in the year-ago period.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.78 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 5 percent on a reported basis to $1.58 billion from $1.50 billion a year earlier. Revenue also increased 5 percent on an organic basis, which excludes the impact of acquisitions and changes in foreign currency. Analysts had a consensus revenue estimate of $1.57 billion for the quarter.

For fiscal 2014, FIS forecasts adjusted earnings per share from continuing operations of $3.05 to $3.16, an increase of 8 to 12 percent compared to $2.83 per share in 2013. The company also forecasts revenue growth of 4.5 percent to 6.5 percent. Street expects the company to earn $3.15 per share for the year on revenues of $6.37 billion.

Separately, FIS said its board of directors has authorized a new share repurchase program of up to $2.0 billion, effective through December 31, 2017. The new share repurchase program replaces the previous $1.0 billion program under which about $174 million remained outstanding.