Fiserv Reports Record 2013
Fiserv Inc. has recorded its 28th consecutive year of double digit earnings per share growth, the financial services technology provider said.
The Brookfield, Wis.-based company, the largest provider of core processing and other services in the credit union industry, said Wednesday that adjusted EPS increased 14% for the fourth quarter and 18% in all of 2013.
Adjusted revenue was $1.19 billion in the fourth quarter, up 10% from the year-ago quarter, and $4.45 billion for the year, also up 10% from 2012. Adjusted for a two-to-one split late in the year, earnings per share increased 14% in the quarter to $0.79 and 18% for the full year to a record $2.99, the company said.
“Our fourth quarter performance capped off a strong year of delivering on our financial commitments including our 28th consecutive year of double digit adjusted earnings per share growth,” Fiserv President/CEO Jeffery Yabuki said in the company announcement. “We enter 2014 with important market momentum and a focus on driving exceptional client value.”
Fiserv bought Open Solutions in 2013 and said it signed 10 new DNA account processing clients in the quarter and 31 for the full year. The company also said it signed 77 Mobiliti mobile banking clients in the quarter and 401 for the full year and now has nearly 1,800 mobile banking clients.
Person-to-person payment users also grew as Fiserv added 98 Popmoney clients in the fourth quarter and 307 for the full year and now has more than 2,100 financial institutions as users.
Ninety-six electronic bill payment clients and 44 debit processing clients were added in the fourth quarter of 2013, and 335 electronic bill payment clients and 145 debit clients during all of 2013, Fiserv said.
In 2014, the company said, it expects adjusted revenue growth in a range of 4% to 5%, and adjusted internal revenue growth of 4% to 4.5%. The company expects adjusted earnings per share to grow 10% to 13% during the year, in a range of $3.28 to $3.37 per share.