FIS 2Q net income falls 30 percent on write-down

Fidelity National Information Services 2Q profit falls 30 percent on write-down for Capco deal

Associated Press

JACKSONVILLE, Fla. (AP) -- Fidelity National Information Services Inc. said Tuesday that its second-quarter net income fell 30 percent due to debt refinancing costs and write-downs in the value of acquired businesses.

The payments technology company, known as FIS, reported net income of $104.8 million, or 36 cents per share, down from $150.6 million, or 50 cents per share, in the same quarter of 2012.

Excluding discontinued operations and items including an adjustment in the value of consulting firm Capco, which FIS bought in 2010, the company said it earned 71 cents per share, 1 cent better than the average forecast of analysts polled by FactSet. That was up 8 percent from a year ago.

Revenue rose 3.8 percent to $1.51 billion from $1.46 billion, but slightly missed the average analyst estimate of $1.53 billion.

FIS backed its full-year adjusted earnings prediction of $2.77 to $2.87 per share on revenue growth of 4 percent to 6 percent. Based on the company's 2012 revenue, the guidance implies 2013 revenue of $6.04 billion to $6.16 billion.

Analysts expect a profit of $2.83 per share on $6.09 billion in revenue, according to FactSet.

Shares of Jacksonville, Fla.-based FIS fell $1.28, or 2.9 percent, to $43 in afternoon trading after briefly hitting $44.55 in opening trading. The shares are close to their five-year high of $45.95, hit in May.

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