Fidelity National Information reports 4Q loss on acquisition and other charges

Fidelity National Information reports 4Q loss

JACKSONVILLE, Fla. — Fidelity National Information Services Inc. reported a fourth-quarter loss on Thursday, taking charges for an acquisition and other one-time expenses.

The company, which now calls itself FIS, provides banking and payment technology to financial institutions and government organizations. It reported a loss of $53.9 million, or 14 cents per share, compared with a profit of $28.8 million, or 15 cents a share a year ago.

The results included 22 cents per share in costs related to the October acquisition of Metavante Technologies Inc. and 23 cents per share in charges related to the write-down of assets in conjunction with the combination of FIS and Metavante.

A deferred revenue adjustment reduced results by another 3 cents per share.

Excluding the charges, the company reported earnings of $167.3 million, or 44 cents per share. Analysts surveyed by Thomson Reuters expected 43 cents.

Shares fell 45 cents, or 1.9 percent, to close at $23.54. They gained 21 cents in aftermarket trading.

Revenue rose to $1.3 billion from $858 million a year ago.

For the year, net earnings were $105.9 million, or 45 cents per share, down from $214.8 million, or $1.12 per share the year before.

Adjusted earnings for the year were $394.7 million, or $1.63 per share, which met analysts expectations.

The company reaffirmed guidance issued in December of adjusted earnings per share of $1.91 to $2.01, which is an increase of 17 percent to 23 percent compared with the adjusted $1.63 in 2009.

Revenue is expected to grow from 2 to 4 percent on an adjusted basis.