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Fiserv Reports Second Quarter Results

email this aricle - Fiserv Reports Second Quarter Results - Brookfield, Wis. - 25 July 2007 print this article - Fiserv Reports Second Quarter Results - Brookfield, Wis. - 25 July 2007
Fiserv, Inc., a leading provider of technology solutions, today reported financial results for the second quarter of 2007.

Total revenues increased 12 percent to $1.18 billion for the second quarter of 2007 compared with $1.06 billion in 2006. For the first six months of 2007, total revenues were $2.37 billion compared with $2.12 billion in 2006.

Total earnings per share for the second quarter of 2007 were $0.64, with earnings per share from continuing operations of $0.62. Adjusted earnings per share from continuing operations for the second quarter of 2007 increased 15 percent to $0.68 compared with $0.59 in 2006. Total earnings per share for the first six months of 2007 were $1.30, with earnings per share from continuing operations of $1.25. Adjusted earnings per share from continuing operations were $1.31 in the first six months of 2007 compared with $1.20 in 2006. Adjusted earnings per share in 2007 exclude a $0.06 charge in the insurance segment in the second quarter of 2007.

Overall adjusted operating margin for the quarter increased 110 basis points to 23.4 percent compared with 22.3 percent in the prior year. Financial segment adjusted operating margin was up 180 basis points to 25.4 percent for the quarter and was up 240 basis points to 25.1 percent for the first six months compared with the prior period. Adjusted internal revenue growth for the financial segment was 5 percent for the quarter.

“Our businesses delivered solid performance in the quarter and we remain on track to achieve our full-year targets,” said Jeffery Yabuki, President and Chief Executive Officer of Fiserv. “Our financial segment once again led the company’s performance with continued growth in revenue and margin expansion.”

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