Brookfield, Wis.-based Fiserv, Inc., a financial and insurance industry software provider, announced record earnings for the second quarter of 2003.
For the three-month period ended June 30, 2003, Fiserv processing and services revenues were $659.1 million, a 17 percent increase over the $563.6 million for the second quarter of 2002. Net income per share-diluted for the second quarter of 2003 was $0.40 per share, compared to $0.34 per share for the second quarter of 2002.
For the six-month period ended June 30, 2003, Fiserv processing and services revenues were $1,283.9 million, a 14 percent increase over the $1,124.3 million for the first six months of 2002. Net income per share-diluted for the first six months of 2003 was 78 cents per share, compared to 67 cents per share for the first six months of 2002.
During the second quarter of 2003, Fiserv closed two acquisitions: ReliaQuote, Inc., located in Falls Church, Virginia, which specializes in the marketing and sale of fully underwritten term life insurance policies, primarily through the Internet; and Wausau Benefits, an employee benefits administrator located in Wausau, Wisconsin, that provides a full range of health and related employee benefit plan administration services nationwide.
Since the close of the second quarter, Fiserv completed the acquisition of the EDS Credit Union Industry Group, based in Plano, Texas. The business, which supports about 1,000 credit unions, specializes in core processing and provides a variety of other products and services, including debit card and transaction processing, electronic banking and lending, and on-line bill payment and presentment services.
Fiserv also completed its acquisition of Chase Credit Research and Chase Credit Systems, based in North Hollywood, Calif. Together, the companies provide information from the three major credit repositories in a consolidated report to lenders, and lease software that allows lenders and credit-reporting companies to perform their own analyses.
Fiserv will hold a Webcast July 23, 2003, at 10 a.m. Central time to allow securities analysts and shareholders the opportunity to hear management discuss the Company’s quarterly results. The Webcast can be accessed through the Company’s Web site at www.fiserv.com. The Webcast will be available for replay through July 21, 2004.
Topics Profit Loss
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