News

Fiserv earnings up in 3Q '03

October 22, 2003

BROOKFIELD, Wis - Transaction processor Fiserv, Inc. (Nasdaq: FISV - News) reported net income of $80.4 million, or 41 cents per share, in the third quarter, up from $66.15 million, or 34 cents per share, in the 2002's third quarter.

Revenue rose to $796.1 million, up from $636.1 million a year earlier.

Leslie Muma, Fiserv's president and chief executive, said the company has closed nine acquisitions so far in 2003, totaling combined annualized processing and services revenues of more than $400 million.

During the third quarter, Fiserv completed five acquisitions, including the EDS Credit Union Industry Group based in Plano, Texas, which provides core processing and other services for the credit union industry. Fiserv renamed the division IntegraSys.

New business signed by Fiserv in the quarter included a deal to provide processing for more than 1,000 ATMs for Cardtronics.

For the year, Fiserv expects EPS of $1.60 to $1.61.