Summary
Fiserv, Inc. (FISV) filed an 8-K on October 26, 2009, to provide recast historical unaudited quarterly financial information for 2009 and 2008. This recast is in preparation for the pending sale of its Loan Fulfillment Solutions (LFS) business. The financial results of the LFS segment are presented as discontinued operations for all periods included in the furnished financial information. Investors should note that LFS generated $152 million in revenue in 2008 and $53 million in revenue for the first six months of 2009.
Key Highlights
- 1Fiserv is providing updated historical financial data for 2008 and 2009.
- 2The recast financial information is specifically in anticipation of the sale of the Loan Fulfillment Solutions (LFS) business.
- 3The LFS business is being classified as 'discontinued operations' in the presented financials.
- 4LFS reported $152 million in revenue for the full year 2008.
- 5LFS reported $53 million in revenue for the first six months of 2009.
- 6This filing is primarily for regulatory disclosure (Regulation FD) and doesn't contain new operational or strategic announcements beyond the LFS sale context.
Frequently Asked Questions
The primary purpose of this filing is to provide investors with recast historical unaudited quarterly financial information for 2009 and 2008. This is being done in connection with the company's pending sale of its Loan Fulfillment Solutions (LFS) business.
The financial results of the LFS business will be reported as discontinued operations for all periods presented in the recast financial information furnished with this report.
The LFS business generated $152 million in revenue during the full year 2008 and $53 million in revenue during the first six months of 2009.
No, this filing is primarily a financial disclosure related to the sale of a specific business segment (LFS). It does not contain new operational updates or forward-looking guidance from Fiserv beyond the context of the LFS divestiture.