Fiserv shows strong 4Q growth fueled by growing sales, acquisitions

Fiserv shows strong 4Q growth fueled by growing sales, acquisitions
Tags: Bank / Credit Union, EFT Networks, North America, Other, Public Companies
February 4, 2007

The Business Journal of Milwaukee: Fiserv Inc. said fourth-quarter profits grew on revenue fueled by increased internal sales and the firm's acquisition strategy.

Fiserv posted net income for the fourth quarter of $150.5 million, or 81 cents per share, compared with $97.5 million, or 50 cents per share, for the same period a year ago.

Total revenue for the Brookfield-based financial technology services provider increased 14 percent to $1.08 billion from $966.4 million. Fiserv president and chief executive officer Jeff Yabuki said each of the company's business segments posted internal revenue growth. The company also continued its aggressive acquisition strategy, completing the purchase of several companies and operations during 2005.