BROOKFIELD, Wis. - Fiserv Inc. reported record earnings for 2005.
According to a news release, processing and services revenue for the full year increased 11 percent, to $3.71 billion from $3.35 billion in 2004. Full-year earnings per share were $2.70.
For the fourth quarter, revenues increased 14 percent, from $866 million in 4Q 2004 to $987.7 million. EPS for the quarter was 81 cents.
"I am pleased with our strong fourth quarter, which led to record results for the full year," said Jeff Yabuki, Fiserv's president and chief executive. "Each of our business segments delivered revenue growth led by strong organic growth in our financial institutions area. In addition to delivering strong results in 2005, we continued to make investments that will enhance the long-term strength of the company."
Yabuki added that Fiserv's acquisitions strengthened 4Q '05 performance.
"We broadened our capabilities and reach in the electronic bill payments space through our acquisition of BillMatrix; increased our global presence by establishing Fiserv Global Services; solidified our technology leadership in the lending business through a unique, end-to-end, electronic mortgage processing solution; and introduced the Fiserv Clearing Network, which allows members the ability to clear checks electronically, and more efficiently, under Check 21."
Fiserv also acquired CareGain, a differentiated healthcare technology developer, earlier this year.
Fiserv repurchased 4.4 million shares of its common stock in 4Q '05. It repurchased 15.2 million shares in '05.
Fiserv expects EPS in 2006 to be between $2.46 and $2.53.
