8-KOther Events

Fidelity National Information Services, Inc. 8-K Report (Oct 23, 2003)

Filed October 23, 2003For Securities:FIS

Summary

Certegy Inc. filed a Form 8-K on October 23, 2003, to report its third-quarter 2003 financial results via an attached press release (Exhibit 99.1). The filing highlights the company's performance and operational status during the quarter. Notably, Certegy is providing certain non-GAAP financial measures to offer investors a clearer view of its core operating results, excluding specific charges incurred in both 2002 and 2003. These non-GAAP measures are presented alongside GAAP figures to aid in the evaluation and comparison of ongoing operations across periods. The excluded items in 2002 include asset impairment charges, litigation settlement, severance costs, and market value losses on life insurance policies. For 2003, the excluded items relate to contract early termination costs and other net charges, primarily associated with downsizing the Brazilian card operation. Investors are advised to consider these non-GAAP measures in conjunction with, not as a substitute for, GAAP financials.

Key Highlights

  • 1Certegy Inc. announced its third-quarter 2003 financial results on October 23, 2003.
  • 2The company issued a press release (Exhibit 99.1) containing its Q3 2003 financial performance.
  • 3Certegy is presenting non-GAAP financial measures to provide a more meaningful view of core operating results from ongoing operations.
  • 4Non-GAAP measures exclude specific charges from 2002 related to asset impairment, litigation, severance, and life insurance policy losses.
  • 5Non-GAAP measures for 2003 exclude costs associated with contract early termination and downsizing the Brazilian card operation.
  • 6The company emphasizes that non-GAAP measures should be considered alongside, not in isolation from, GAAP financial measures.
  • 7The filing is furnished under Item 12 and is not deemed 'filed' for Section 18 liability purposes unless specifically referenced in a future filing.

Frequently Asked Questions

The main purpose of this Form 8-K filing is to report Certegy Inc.'s financial results for the third quarter of 2003, which are detailed in an accompanying press release (Exhibit 99.1).

Certegy is providing non-GAAP financial measures to offer investors and management a clearer perspective on the company's core operating results from ongoing operations, by excluding certain charges that are not considered representative of the company's sustainable performance. This allows for more consistent period-over-period comparisons.

In 2002, excluded charges included asset impairment in the Brazilian card operation, litigation settlement, severance costs, and market value loss on life insurance policies. In 2003, excluded charges primarily relate to contract early termination costs and other net charges associated with downsizing the Brazilian card operation.

Investors should interpret these non-GAAP measures as supplemental information to GAAP financial measures. They should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. The company believes they are useful for evaluating and comparing ongoing operational results.