News

Fiserv earns record $3.3B in '04

January 30, 2005

BROOKFIELD, Wis. - Fiserv, Inc. (Nasdaq:FISV) reported record earnings of $3.3 billion for 2004, a 29 percent increase over the $2.6 billion it earned in 2003. Net income per share was $1.91 per share, compared to $1.61 per share for 2003.

For the three-month period ended Dec. 31, 2004, Fiserv processing and services revenues were $866.1 million, a 20 percent increase over the $720.8 million for 2003's fourth quarter. Net income per share for 2004's fourth quarter was 49 cents, compared to 42 cents per share for the fourth quarter of 2003.

Fiserv recently announced that it was the preferred vendor for services to be provided to Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp., three of Australia's four largest financial institutions.

Negotiations are continuing with the three banks, and all parties are confident that a transaction will be signed in February, according to a news release.

The proposed transaction, if signed, would be for a term of 12 years and generate projected revenue of between $400 million and $500 million based on estimated volumes over the contract term.

"Following execution, this transaction will enable Fiserv to establish a significant presence in Australia and set the stage for future growth. In addition, this transaction will offer a solid example of how Fiserv can provide customized, unique services for the largest financial institutions worldwide," said Leslie Muma, the company's chief executive.

Read the full earnings report...