Fiserv Notches Record Year
Fiserv Inc. said it had a record year in 2011, recording earnings per share of $4.58 on adjusted revenue of $4.07 billion, up 4% from 2010.
EPS growth of 20% in the fourth quarter helped propel the year-end figure to the new record, the company said.
“Revenue growth in the quarter was at its highest level in more than three years leading to our 26th consecutive year of double-digit adjusted EPS growth,” said Jeffery Yabuki, president/CEO of Fiserv in Brookfield, Wis.
Adjusted revenue was $1.08 billion in the fourth quarter compared with $1.03 billion in 2010, an increase of 6%, the company said in its announcement on Thursday.
Fiserv said it signed 114 electronic bill payment clients and 54 debit clients in the quarter and 435 bill payment clients and 196 debit clients for the full year.
The company said it signed 219 person-to-person payments clients in the quarter and more than 580 in the full year, bringing to nearly 1,400 the number of P2P it now serves.
Individual signings of note during the year, Fiserv said, included selling its new Acumen core platform to the $5 billion Suncoast Schools FCU in Tampa, Fla., the $4.3 billion Randolph-Brooks FCU in Live Oak, Texas, and the $1.2 billion Navigant Credit Union of Smithfield, R.I., and the XP2 platform to the $232 million Members CU in Winston-Salem, N.C.
Also, the $47 billion Navy Federal selected to Corillian Online solution for Internet banking along with Campaign Manager, Personal Money Manager and a fraud detection system, the company said.
”Two consecutive years of strong sales along with the introduction of new, highly valued solutions, have us well positioned to deliver additional client value and enhance growth,” Yabuki said.