8-KEarnings & ResultsExhibits & Filings

Fidelity National Information Services, Inc. 8-K Report, Financial Results (Dec 5, 2008)

Filed December 5, 2008For Securities:FIS

Summary

This 8-K filing from Fidelity National Information Services, Inc. (FIS) on December 5, 2008, primarily announces two key financial reporting adjustments intended to provide investors with a clearer view of the company's ongoing performance. Firstly, FIS completed the sale of Certegy Australia, Ltd. on October 13, 2008, and will begin reporting its results as a discontinued operation starting with the fourth quarter of 2008. This segregation is designed to highlight the performance of FIS's core continuing businesses. Secondly, the company is reclassifying certain revenues from the eFunds acquisition. Previously reported under the 'International' revenue channel, these revenues will now be reported within 'Integrated Financial Solutions' and 'Enterprise Solutions' to align with current reporting structures. The accompanying Exhibit 99.1 provides supplemental financial schedules that recast historical 2007 and 2008 quarterly data to reflect these changes, offering investors a consistent and comparable view of the company's operational performance.

Key Highlights

  • 1FIS has sold its Certegy Australia, Ltd. operations as of October 13, 2008.
  • 2Certegy Australia, Ltd. will be reported as a discontinued operation from the fourth quarter of 2008 onwards.
  • 3Certain revenues from the eFunds acquisition are being reclassified.
  • 4These eFunds revenues are moving from the 'International' revenue channel to 'Integrated Financial Solutions' and 'Enterprise Solutions'.
  • 5The filing includes supplemental financial schedules (Exhibit 99.1) to present historical data consistent with new reporting classifications.
  • 6The company is providing these adjusted historical figures to offer more timely and understandable insights into operating performance.
  • 7The furnished information is presented using non-GAAP measures for specific planning and performance evaluation purposes, alongside GAAP measures.

Frequently Asked Questions

Reporting Certegy Australia, Ltd. as a discontinued operation means its financial results will be separated from FIS's ongoing, core business activities. This allows investors to better understand the performance of FIS's continuing operations without the influence of the divested business, providing a clearer picture of the company's future earning potential.

FIS is reclassifying certain eFunds revenues from the 'International' channel to 'Integrated Financial Solutions' and 'Enterprise Solutions' to align with its current business structure and reporting practices. This reclassification aims to provide a more accurate representation of where these revenues are generated within the company's operational segments, ensuring consistency in financial reporting.

Exhibit 99.1 contains supplemental financial schedules that recast historical financial data for 2007 and the first three quarters of 2008. These schedules are presented in a manner consistent with how FIS will report its results going forward, incorporating the discontinued operations of Certegy Australia and the reclassification of eFunds revenues. This provides investors with comparable historical information to better analyze trends and performance.

The filing states that Exhibit 99.1 contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). FIS's management uses these non-GAAP measures for planning and performance evaluation. While considered relevant and useful by management, these non-GAAP measures should be viewed in conjunction with, and not as a substitute for, GAAP measures.