Fiserv caps another profitable year

Brookfield-based Fiserv Inc. reported fourth quarter net income of $179 million, or $1.32 per share, up from $143.0 million, or $1.01 per share, in the same period a year ago.

The company’s quarterly total revenue was flat at $1.2 million.

For the full year, Fiserv’s total revenue grew to $ 3.7 billion from $3.5 billion a year earlier. On Jan. 14, Fiserv acquired Open Solutions Inc., a provider of collaborative, enterprise account processing technology for financial institutions.

“Our 2012 results were highlighted by our 27th consecutive year of double-digit adjusted earnings per share growth and meaningful strategic progress,” said Jeffery Yabuki, president and chief executive officer of Fiserv. “We capped off a strong sales year with exceptional performance in the fourth quarter.”

Fiserv expects total adjusted revenue growth for 2013 to be in excess of 10 percent and adjusted internal revenue growth to be in a range of 3 to 4 percent. The company also expects adjusted earnings per share to be in a range of $5.88 to $6.07, which represents growth of 15 to 18 percent over $5.13 in 2012.

“The continued strength in our recurring revenue businesses, along with the acquisition of Open Solutions, has us well positioned to accelerate revenue growth while delivering strong earnings and cash flow in 2013,” said Yabuki.

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