FIS Reports Fourth Quarter and Full Year 2014 Results 

FIS Global, Platform Securities’ parent company, have reported their 2014 fourth-quarter and full-year results. They reported a revenue increase of six percent on a GAAP basis to $6.4 billion from $6.1 billion a year earlier. GAAP net earnings from continuing operations attributable to common stockholders increased to $690.5 million, or $2.39 per diluted share, compared to $490.0 million, or $1.67 per diluted share in 2013.  

Full year 2014 revenue increased five percent on an organic basis from the prior year, which adjusts for the impact of acquisitions and changes in foreign currency. 2014 adjusted EBITDA increased five percent to $1.9 billion from $1.8 billion a year earlier and non-GAAP adjusted net earnings from continuing operations attributable to common stockholders increased to $895 million from $830 million in 2013. Adjusted net earnings per diluted share increased ten percent to $3.10 from $2.82 in 2013. Full year non-GAAP adjusted net earnings from continuing operations adjusts for costs pertaining to acquisition-related purchase amortization expense of $0.51 per share, refinancing costs of $0.09 per share, and acquisition, integration, and severance costs of $0.09 per share, and includes $0.02 per share related to contract settlement revenue.

 “FIS delivered another year of strong earnings and cash flow allowing us to return $750 million to our shareholders through share repurchases and dividends,” said Gary Norcross, president and chief executive officer, FIS. “Our deep client relationships across the globe delivered key business wins and growth in 2014. We look to maintain this positive momentum in 2015 as we continue to deliver value to our clients and shareholders.”

 Fourth Quarter 2014

 Revenue increased to $1.7 billion from $1.6 billion in the fourth quarter of 2013 or seven percent on a reported basis. GAAP net earnings from continuing operations attributable to common stockholders were $202.4 million, or $0.71 per diluted share, compared to $74.2 million, or $0.25 per diluted share in the prior year quarter.

 Fourth quarter 2014 revenue increased five percent on an organic basis, which adjusts for the impact of acquisitions and changes in foreign currency, from the prior year quarter. Non-GAAP adjusted net earnings from continuing operations attributable to common stockholders increased to $249.3 million in the fourth quarter of 2014 from $219.8 million in the prior year quarter. Adjusted net earnings per diluted share increased 16 percent to $0.87 per share from $0.75 per share in the fourth quarter 2013. Fourth quarter 2014 non-GAAP adjusted net earnings from continuing operations excludes costs pertaining to acquisition-related purchase amortization expense of $0.12 per share and acquisition, integration, and severance costs of $0.04 per share. Adjusted EBITDA increased to $525.6 million in the fourth quarter of 2014, up nine percent from $484.0 million in the prior year quarter, while adjusted EBITDA margin was 31.1 percent, an increase of 30 basis points, compared to 30.8 percent in the prior year quarter.

 Further detail can be found at http://www.fisglobal.com/C034407

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