BROOKFIELD, Wis. - Fiserv, Inc. (Nasdaq: FISV) said its processing and services revenues were $855.9 million in 2004's second quarter, a 33 percent increase over the $643.9 million for the second quarter of 2003. Net income per diluted share was 48 cents, compared to 40 cents in 2003's second quarter.
For the six months ended June 30, processing and services revenues were $1.7 billion, a 36 percent increase over the $1.2 billion for the first six months of 2003. Net income per diluted share for the first half of 2004 was 95 cents per share, compared to 78 cents per diluted share for the first six months of 2003.
Leslie Muma, Fiserv's president and CEO, said the company is "on track for a record year in 2004, with a solid sales pipeline to fuel organic growth and a promising outlook for acquisitions." The target for full-year diluted earnings per share continues to be $1.87 to $1.93, Muma said.
Among new relationships and client renewals signed during the second quarter: Caja Popular Mexicana, Mexico's largest credit union, selected the Fiserv ICBS core banking system to process its operations throughout its 327 branches; Sovereign Bank, a $47 billion financial institution based in Wyomissing, Pa., added to its Fiserv relationship by agreeing to use the Fiserv UniFi PRO Mortgage eX system as its new loan origination solution; and Liberty Bank for Savings, a $764 million asset financial institution in Chicago, expanded its relationship with Fiserv by adding the Fiserv VISION core processing system, as well as data warehouse, image-based check processing and imaging solutions from Fiserv Imagesoft.
