8-KOther Events

Fidelity National Information Services, Inc. 8-K Report (Apr 24, 2003)

Filed April 24, 2003For Securities:FIS

Summary

This 8-K filing from Certegy Inc., dated April 24, 2003, primarily serves to furnish its first-quarter 2003 financial results via a press release. The key takeaway for investors is the announcement of $12.6 million in charges (or $7.9 million after-tax, impacting diluted EPS by $0.12) related to contract termination, severance, and other costs during the quarter. Certegy provides both GAAP and non-GAAP financial measures, with management emphasizing the usefulness of excluding these charges for evaluating core operating results. Investors should note that these non-GAAP measures are presented to supplement, not replace, GAAP-based reporting and require careful consideration alongside standard financial metrics.

Key Highlights

  • 1Certegy Inc. reported its first-quarter 2003 financial results on April 24, 2003.
  • 2The company recognized $12.6 million in charges during Q1 2003 for contract termination, severance, and other costs.
  • 3These charges amounted to $7.9 million after-tax, impacting diluted earnings per share by $0.12.
  • 4Certegy provided both GAAP and non-GAAP financial reporting in its press release.
  • 5Management believes excluding these charges offers a clearer view of ongoing core operations.
  • 6Non-GAAP measures are presented as supplementary and should not be viewed in isolation from GAAP results.

Frequently Asked Questions

Certegy Inc. announced its financial results for the first quarter of 2003. The key financial event was the recognition of $12.6 million in charges related to contract termination, severance, and other costs during the quarter.

The charges amounted to $7.9 million after-tax and resulted in a reduction of $0.12 per diluted share for the first quarter of 2003.

Yes, Certegy's press release includes financial results calculated in accordance with Generally Accepted Accounting Principles (GAAP). They also provide non-GAAP measures that exclude the specified charges.

Certegy's management believes that presenting results excluding the contract termination, severance, and other costs allows investors and management to better evaluate and compare the company's core operating results from ongoing operations over time. However, they emphasize that these non-GAAP measures should not be considered in isolation or as an alternative to GAAP measures.