BROOKFIELD, Wis. - Fiserv posted net income of $92.4 million, or 47 cents per share, in 2004's third quarter, compared to $80.4 million, or 41 cents per share, in the year-earlier quarter.
Processing and services revenues for the latest quarter were $866.3 million, a 23 percent increase over $702 million for 2003's third quarter.
For the first nine months of the year, Fiserv processing and services revenues were $2.5 billion, a 31 percent increase over the $1.9 billion for the first nine months of 2003. Net income per share-diluted for the first nine months of 2004 was $1.42 per share, compared to $1.19 per share for the first nine months of 2003.
Fiserv's target for 2004 full-year diluted EPS is $1.90 to $1.92.
During the third quarter, Fiserv completed two acquisitions: Results International Systems, Inc., a provider of outsourced solutions for the property-and-casualty insurance industry, and Pharmacy Fulfillment, Inc., a provider of mail-order prescription services.
Fiserv announced earlier this month that it has purchased CheckAGAIN, LLC, a company that converts paper and imaged checks that have been returned for insufficient funds into electronic automated clearinghouse (ACH) transactions for re-presentment to the check writer's account.
