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Press Release


FIS Reports Strong Earnings and Raises Full Year Outlook

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JACKSONVILLE, Fla., July 28, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Fidelity National Information Services, Inc. (NYSE: FIS), a leading global provider of technology services to financial institutions, today reported financial results for the quarter ended June 30, 2009.

Consolidated revenue of $834.8 million declined 4.0% in U.S. dollars and 0.4% in constant currency compared to $869.7 million in the second quarter of 2008. Non-GAAP adjusted net earnings increased 23.5% to $0.42 per share in U.S. dollars, compared to $0.34 in the prior year, and increased 26.5% in constant currency. The increase is due to improved operating performance across all major business lines and lower net interest expense. GAAP net earnings from continuing operations attributable to common stockholders totaled $59.6 million, or $0.31 per share, compared to $0.07 per share in the prior period. Free cash flow (cash from operations less capital expenditures) was $124.6 million compared with $86.0 million in the prior year quarter.

"FIS reported another quarter of excellent growth in earnings, margin expansion and strong free cash flow. Our management team has done an excellent job navigating through the current difficult market conditions, and in further strengthening FIS's position as a premier global organization," stated William P. Foley, II, executive chairman. "Importantly, despite the difficult market environment, we remain highly focused on expanding customer relationships, and we continue to pursue growth opportunities that leverage our existing operations and drive long-term value for our shareholders."

"We are very pleased with our strong second quarter performance, which included a 250 basis point improvement in margin and once again, outstanding free cash flow. The strategic initiatives implemented over the last several quarters are producing tangible results, and we remain confident in our ability to continue to generate strong operating efficiencies and leverage," added Lee A. Kennedy, president and chief executive officer. "Based on results to date and our outlook for the remainder of 2009, we are increasing our full year earnings outlook to $1.71 to $1.75 per share from our previous guidance of $1.60 to $1.66 per share."

Supplemental Information

Consolidated revenue in the second quarter of 2009 was $834.8 million, compared with $869.7 in the prior year quarter, a decrease of 4.0% in U.S. dollars. Excluding a $31.2 million unfavorable impact of foreign currency resulting from a strengthening of the U.S. dollar, consolidated revenue declined 0.4%.

- Financial Solutions revenue declined 1.4% to $277.0 million compared to $280.8 million in the prior period, as increased demand for risk management and technology outsourcing services was offset by lower software license and professional services revenue.

- Payment Solutions revenue declined 0.9% to $380.0 million compared to $383.4 million in the 2008 quarter, as growth in debit was offset by declines in item processing, credit card and retail check services.

- International revenue declined 13.7% to $178.4 million in U.S. dollars, compared to $206.8 million in the prior year quarter. The decline was driven by the strengthening of the U.S. dollar and exceptionally strong revenue in the second quarter of 2008. International revenue increased 1.4% in constant currency, driven by 5.1% growth in payments. Financial solutions revenue declined 4.3% due to a reduction in license and professional services revenue related to significant new customer implementations in the second quarter of 2008.

Adjusted EBITDA increased 6.9% to $211.6 million in the second quarter of 2009 compared to $198.0 million in the 2008 quarter. The adjusted EBITDA margin improved 250 basis points to 25.3% compared to 22.8% in the prior-year quarter, driven by increased operating leverage and ongoing expense management across all operating segments.

- Financial Solutions EBITDA increased 15.0% to $119.4 million, and the margin improved 610 basis points to 43.1% compared to 37.0% in the prior year.

- Payment Solutions EBITDA increased 8.2% to $105.2 million, and the margin increased 230 basis points to 27.7%.

- International EBITDA increased 29.4% to $29.5 million. Productivity improvements more than offset a decline in high margin software sales and a $6.5 million unfavorable currency impact. The EBITDA margin improved 550 basis points to 16.5% compared to 11.0% in the prior year.

The effective tax rate in the second quarter of 2009 was 34.5% compared to 32.0% in the second quarter of 2008.

Balance Sheet

FIS had $227.9 million in cash and cash equivalents at June 30, 2009. The company repaid $168.4 million of debt during the second quarter, reducing total debt outstanding to $2.3 billion, of which $2.1 billion has been swapped to fixed interest rates. The effective interest rate was 5.5% as of June 30, 2009.

Capital expenditures totaled $50.9 million in the quarter, compared to $52.0 million spent in the prior year.

Acquisition Update

On April 1, 2009, FIS announced plans to acquire Metavante Technologies, Inc. (NYSE:MV). FIS expects to complete the transaction in the fourth quarter of 2009, subject to shareholder and regulatory approvals and the satisfaction of customary closing conditions.

2009 Outlook

Based on FIS's results in the first six months and the outlook for the remainder of the year, management expects to achieve adjusted net earnings of $1.71 to $1.75 per share in 2009, compared to the previous guidance of $1.60 to $1.66 per share. The company expects constant currency revenue to increase modestly in 2009 compared to 2008, and expects reported revenue to decline slightly compared to 2008. Free cash flow is expected to exceed the high end of management's previous guidance of $410 million to $430 million. This guidance does not include Metavante's operating results. FIS will update its fiscal 2009 guidance to include Metavante following the completion of the transaction.

Use of Non-GAAP Financial Information

Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, the company has provided non-GAAP financial measures which it believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. These non-GAAP measures include earnings before interest, taxes and amortization (EBITDA), adjusted net earnings, and free cash flow. Adjusted EBITDA excludes the impact of merger and acquisition and integration expenses, LPS spin-off related costs, certain stock compensation charges and certain other costs. Adjusted net earnings exclude the after-tax impact of merger and acquisition and integration expenses, LPS spin-off related costs, certain stock compensation charges, acquisition related amortization and certain other costs. Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. Further, FIS's non-GAAP measures may be calculated differently from similarly-titled measures of other companies. A reconciliation of these non-GAAP measures to related GAAP measures is included in the press release attachments.

Conference Call and Webcast

FIS will host a call with investors and analysts to discuss second quarter 2009 results on Tuesday, July 28, 2009, beginning at 5:00 p.m. Eastern daylight time. To register for the live event and to access a supplemental slide presentation, go to the Investor Relations section at www.fidelityinfoservices.com and click on "Events and Multimedia." A webcast replay will be available on FIS' Investor Relations website, and a telephone replay will be available through August 11, 2009, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 106703. To access a PDF version of this release and accompanying financial tables, go to http://www.investor.fidelityinfoservices.com.

About Fidelity National Information Services, Inc.

Fidelity National Information Services, Inc. (NYSE: FIS), a member of the S&P 500 Index, is a leading provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS has processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10 and was ranked the number one banking technology provider in the world by American Banker and the research firm Financial Insights in the 2008 FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 14,000 financial institutions in more than 90 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.

Forward-Looking Statements

This press release contains forward-looking statements, including certain plans, expectations, goals and projections, and statements about FIS's acquisition of Metavante, which are subject to numerous assumptions, risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. The risks and uncertainties that forward-looking statements are subject to include, without limitation: changes in general economic, business and political conditions, including changes in the financial markets; the effect of governmental regulations, including the possibility that there are unexpected delays in obtaining regulatory approvals; the failure to obtain required transaction approvals from FIS's and Metavante's shareholders; the effects of our substantial leverage which may limit the funds available to make acquisitions and invest in our business; the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries or due to financial failures suffered by firms in those industries; actions that may be taken by the competitors, customers and suppliers of FIS or Metavante that may cause the transaction to be delayed or not completed; failures to adapt our services to changes in technology or in the marketplace; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; competitive pressures on product pricing and services; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission. All forward-looking statements included in this document are based on information available at the time of the document. FIS assumes any obligation to update any forward-looking statement.

FIS-e

                   Fidelity National Information Services, Inc.
                Earnings Release Supplemental Financial Information
                                   July 28,2009
                                    (Unaudited)
 
    Exhibit A    Consolidated Statements of Earnings for the Three and Six
                 Months ended June 30, 2009 and 2008
 
    Exhibit B    Consolidated Balance Sheets as of June 30, 2009 and
                 December 31, 2008
 
    Exhibit C    Consolidated Statements of Cash Flows for the Six Months
                 Ended June 30, 2009 and 2008
 
    Exhibit D    Supplemental Non-GAAP Financial Information for the Three and
                 Six Months Ended June 30, 2009 and 2008
 
    Exhibit E    Supplemental GAAP to Non-GAAP Reconciliation - Unaudited for
                 the Three and Six Months Ended June 30, 2009 and 2008
 
                                                                    Exhibit A
 
          FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF EARNINGS - UNAUDITED
                       (In millions, except per share data)
 
                                           Three months         Six months
                                               ended              ended
                                              June 30,           June 30,
                                            ------------     ----------------
                                           2009    2008      2009       2008
                                           ----    ----      ----       ----
 
    Processing and services revenues     $834.8  $869.7  $1,632.6   $1,700.0
 
    Cost of revenues                      602.7   674.0   1,199.9    1,322.7
    Selling, general and administrative
     expenses                              93.2   117.9     189.3      229.0
    Research and development costs         21.5    19.9      44.1       39.2
                                           ----    ----      ----       ----
 
    Operating income                      117.4    57.9     199.3      109.1
                                          -----    ----     -----      -----
    Other income (expense):
      Interest income                       0.5     1.5       1.3        4.3
      Interest expense                    (31.8)  (43.6)    (63.8)     (82.4)
      Other income (expense)                5.5     1.3       6.7        0.1
                                            ---     ---       ---        ---
          Total other income (expense)    (25.8)  (40.8)    (55.8)     (78.0)
                                           ----    ----      ----       ----
 
    Earnings from continuing operations
     before income taxes                   91.6    17.1     143.5       31.1
      Provision for income taxes           31.6     3.3      49.5        6.6
      Equity in losses of
       unconsolidated entities               -     (0.2)       -        (0.2)
                                            ---     ---       ---        ---
 
        Net earnings from continuing
         operations                        60.0    13.6      94.0       24.3
        (Loss) earnings from discontinued
         operations, net of tax            (0.4)   59.2      (1.7)     118.8
                                            ---    ----       ---      -----
 
          Net earnings                     59.6    72.8      92.3      143.1
          Net earnings attributable to
           noncontrolling interest         (0.4)   (0.9)     (0.1)      (0.7)
                                            ---     ---       ---        ---
 
          Net earnings attributable
           to FIS                          $59.2   $71.9     $92.2     $142.4
                                           =====   =====     =====     ======
 
    Net earnings per share-basic
     from continuing operations
     attributable to FIS common
     stockholders *                        $0.31   $0.07     $0.49      $0.13
    Net earnings (loss) per share-basic
     from discontinued operations
     attributable to FIS common
     stockholders *                        (0.00)   0.30     (0.01)      0.61
                                            ----    ----      ----       ----
    Net earnings per share-basic
     attributable to FIS
     common stockholders *                 $0.31   $0.37     $0.48      $0.74
                                           =====   =====     =====      =====
 
    Weighted average shares
     outstanding-basic                     190.3   192.5     190.2      193.5
                                           =====   =====     =====      =====
 
 
    Net earnings per share-diluted
     from continuing operations
     attributable to FIS common
     stockholders *                        $0.31   $0.07     $0.49      $0.12
    Net earnings (loss) per share-
     diluted from discontinued operations
     attributable to FIS common
     stockholders *                        (0.00)   0.30     (0.01)      0.61
                                            ----    ----      ----       ----
    Net earnings per share-diluted
     attributable to FIS
     common stockholders *                 $0.31   $0.37     $0.48      $0.73
                                           =====   =====     =====      =====
 
    Weighted average shares
     outstanding-diluted                   192.7   194.4     192.2      195.5
                                           =====   =====     =====      =====
 
    Amounts attributable to FIS
     common stockholders:
      Net earnings from continuing
       operations, net of tax              $59.6   $13.3     $93.9      $24.2
      (Loss) earnings from discontinued
       operations, net of tax               (0.4)   58.6      (1.7)     118.2
                                             ---    ----       ---      -----
      Net earnings attributable
       to FIS common stockholders          $59.2   $71.9     $92.2     $142.4
                                           =====   =====     =====     ======
 
    *  Amounts may not sum due to rounding.
 
 
 
                                                                    Exhibit B
 
           FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES
                            CONSOLIDATED BALANCE SHEETS
                                   (In millions)
 
                                                  As of         As of
                                                 June 30,   December 31,
                                                   2009          2008
                                                   ----          ----
                                                (Unaudited)
                     Assets
    Current assets:
      Cash and cash equivalents                  $227.9        $220.9
      Settlement deposits                          38.0          31.4
      Trade receivables, net                      521.8         538.1
      Settlement receivables                       38.9          52.1
      Other receivables                            77.5         121.1
      Receivable from FNF and LPS                  11.4          10.1
      Prepaid expenses and other current
       assets                                      98.9         115.1
      Deferred income taxes                        80.5          77.4
                                                   ----          ----
          Total current assets                  1,094.9       1,166.2
 
    Property and equipment, net of
     accumulated depreciation and
     amortization                                 271.4         272.6
    Goodwill                                    4,200.2       4,194.0
    Other intangible assets, net of
     accumulated amortization                     905.4         924.3
    Computer software, net of accumulated
     amortization                                 640.5         617.0
    Deferred contract costs                       249.0         241.2
    Long-term notes receivable from FNF             5.1           5.5
    Other noncurrent assets                        73.3          79.6
                                                   ----          ----
          Total assets                         $7,439.8      $7,500.4
                                               ========      ========
 
 
               Liabilities and Equity
    Current liabilities:
      Accounts payable and accrued
       liabilities                               $458.1        $444.8
      Settlement payables                          81.6          83.3
      Current portion of long-term debt           158.1         105.5
      Deferred revenues                           184.1         182.9
                                                  -----         -----
          Total current liabilities               881.9         816.5
 
    Deferred revenues                              89.1          86.7
    Deferred income taxes                         331.2         332.7
    Long-term debt, excluding current
     portion                                    2,134.0       2,409.0
    Other long-term liabilities                   115.3         158.5
                                                  -----         -----
          Total liabilities                     3,551.5       3,803.4
                                                -------       -------
 
    FIS stockholders' equity:
        Preferred stock $0.01 par value               -             -
        Common stock $0.01 par value                2.0           2.0
        Additional paid in capital              2,964.6       2,959.8
        Retained earnings                       1,149.2       1,076.1
        Accumulated other comprehensive
         (loss) earnings                          (15.7)       (102.3)
        Treasury stock                           (383.2)       (402.8)
                                                  -----         -----
          Total FIS stockholders' equity        3,716.9       3,532.8
    Noncontrolling interest                       171.4         164.2
                                                  -----         -----
          Total equity                          3,888.3       3,697.0
                                                -------       -------
 
          Total liabilities and equity         $7,439.8      $7,500.4
                                               ========      ========
 
 
 
                                                                    Exhibit C
 
           FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
                                   (In millions)
 
                                                       Six months ended
                                                           June 30,
                                                       ----------------
                                                        2009       2008
                                                        ----       ----
    Cash flows from operating activities:
      Net earnings                                     $92.3     $143.1
      Adjustment to reconcile net earnings to net
       cash provided by operating activities:
        Depreciation and amortization                  184.1      244.5
        Amortization of debt issue costs                 1.7        2.9
        Net gain on sale of non-strategic
         businesses                                        -       (1.0)
        Stock-based compensation cost                   18.3       42.2
        Deferred income taxes                          (31.8)       3.0
        Income tax benefit from exercise of stock
         options                                        (0.1)      (0.9)
        Equity in losses of unconsolidated entities        -        2.3
        Changes in assets and liabilities, net of
         effects from acquisitions:
          Net decrease (increase) in trade
           receivables                                  93.8      (58.2)
          Net decrease (increase) in prepaid
           expenses and other assets                    19.3       (6.7)
          Net additions to deferred contract costs     (25.3)     (39.5)
          Net increase in deferred revenue               2.5       15.7
          Net decrease in accounts payable,
           accrued liabilities and other liabilities   (23.7)    (104.6)
                                                        ----      -----
 
          Net cash provided by operating activities    331.1      242.8
                                                       -----      -----
 
    Cash flows from investing activities:
      Additions to property and equipment              (27.1)     (43.9)
      Additions to capitalized software                (69.1)    (111.7)
      Net proceeds from sale of company assets             -       33.5
      Acquisitions, net of cash acquired                (3.8)     (17.4)
      Other investing activities                           -       (4.7)
                                                           -       ----
 
          Net cash used in investing activities       (100.0)    (144.2)
                                                       -----      -----
 
    Cash flows from financing activities:
      Borrowings                                     1,198.7    2,699.6
      Debt service payments                         (1,420.1)  (2,704.5)
      Dividends paid                                   (19.1)     (19.3)
      Income tax benefit from exercise of stock
       options                                           0.1        0.9
      Stock options exercised                            6.0       11.5
      Treasury stock purchases                             -     (236.2)
                                                           -      -----
 
          Net cash used in financing activities       (234.4)    (248.0)
                                                       -----      -----
 
      Effect of foreign currency exchange rates on
       cash                                             10.3        1.1
                                                        ----        ---
 
          Net increase (decrease) in cash and cash
           equivalents                                   7.0     (148.3)
 
    Cash and cash equivalents, at beginning of
     period                                            220.9      355.3
                                                       -----      -----
 
    Cash and cash equivalents, at end of period       $227.9     $207.0
                                                      ======     ======
 
 
 
                                                                    Exhibit D
 
                            FIDELITY NATIONAL INFORMATION SERVICES, INC.
                             NON-GAAP FINANCIAL INFORMATION - UNAUDITED
                                            (In millions)
 
    1. Revenue, EBIT and EBITDA
                                   Three Months Ended June 30, 2009
                                   --------------------------------
                                                            Corporate
                             Financial   Payment    Inter-    and     Consoli-
                             Solutions  Solutions  national  Other     dated
                             ---------  ---------  -------- --------- --------
        Revenue from
         Continuing
         Operations             $277.0     $380.0    $178.4    $(0.6)  $834.8
 
          Operating Income       $90.7      $94.4     $14.9   $(82.6)  $117.4
          M&A, Restructuring
           and Integration Costs    -          -         -       2.1      2.1
                                   ---        ---       ---      ---      ---
            EBIT, as adjusted    $90.7      $94.4     $14.9   $(80.5)  $119.5
                                 =====      =====     =====   ======   ======
 
          Depreciation and
           Amortization from
           Continuing
            Operations, as
             adjusted             28.7       10.8     14.6       38.0    92.1
                                  ----       ----     ----       ----    ----
            EBITDA, as
             adjusted           $119.4     $105.2    $29.5     $(42.5) $211.6
                                ======     ======    =====     ======  ======
 
            EBIT Margin, as
             adjusted             32.7%      24.8%     8.4%       N/M%   14.3%
                                  ====       ====      ===        ===    ====
 
            EBITDA Margin, as
             adjusted             43.1%      27.7%    16.5%       N/M%   25.3%
                                  ====       ====     ====        ===    ====
 
 
 
                                      Three Months Ended June 30, 2008
                                      --------------------------------
                                                            Corporate
                             Financial   Payment    Inter-    and     Consoli-
                             Solutions  Solutions  national  Other     dated
                             ---------  ---------  -------- --------- --------
    Revenue from
         Continuing
         Operations             $280.8     $383.4   $206.8      $(1.3) $869.7
 
          Operating Income       $77.9      $87.5     $7.6    $(115.1)  $57.9
          M&A, Restructuring
           and Integration
           Costs                    -          -        -        29.1    29.1
          Corporate Costs
           Non - Disc. Ops          -          -        -         9.0     9.0
          LPS Spin-off Costs        -          -        -         5.6     5.6
                                   ---        ---      ---        ---     ---
            EBIT, as adjusted    $77.9      $87.5     $7.6     $(71.4) $101.6
                                 =====      =====     ====     ======  ======
 
          Depreciation and
           Amortization from
           Continuing
            Operations, as
             adjusted             25.9        9.7     15.2       45.6    96.4
                                  ----        ---     ----       ----    ----
            EBITDA Margin, as
             adjusted           $103.8      $97.2    $22.8     $(25.8) $198.0
                                ======      =====    =====     ======  ======
 
            EBIT Margin, as
             adjusted             27.7%      22.8%     3.7%       N/M%   11.7%
                                  ====       ====      ===        ===    ====
 
            EBITDA Margin, as
             adjusted             37.0%      25.4%    11.0%       N/M%   22.8%
                                  ====       ====     ====        ===    ====
 
 
      Total Revenue Growth from
       Prior Year Period
 
          Three Months Ended
           June 30, 2009          -1.4%      -0.9%   -13.7%       N/M%   -4.0%
                                   ===        ===     ====        ===     ===
 
          Three Months Ended
           June 30, 2008          13.5%      25.7%    44.3%       N/M%   25.1%
                                  ====       ====     ====        ===    ====
 
 
 
                                                                    Exhibit D
 
    FIDELITY NATIONAL INFORMATION SERVICES, INC.
    NON-GAAP FINANCIAL INFORMATION - UNAUDITED
    (In millions)
 
    1. Revenue, EBIT and EBITDA
                                     Six Months Ended June 30, 2009
                             -------------------------------------------------
                                                            Corporate
                             Financial   Payment    Inter-    and     Consoli-
                             Solutions  Solutions  national  Other     dated
                             ---------  ---------  -------- --------- --------
        Revenue from
         Continuing
         Operations            $548.3     $744.7   $340.7    $(1.1)  $1,632.6
 
          Operating Income     $164.3     $178.5    $25.1  $(168.6)    $199.3
          M&A, Restructuring
           and Integration
           Costs                   -          -        -       9.4        9.4
                                  ---        ---      ---      ---        ---
            EBIT, as adjusted  $164.3     $178.5    $25.1  $(159.2)    $208.7
                               ======     ======    =====  =======     ======
 
          Depreciation and
           Amortization from
           Continuing
            Operations, as
             adjusted            57.1       21.9     27.8     77.3      184.1
                                 ----       ----     ----     ----      -----
            EBITDA, as
             adjusted          $221.4     $200.4    $52.9   $(81.9)    $392.8
                               ======     ======    =====   ======     ======
 
            EBIT Margin, as
             adjusted            30.0%      24.0%     7.4%     N/M%      12.8%
                                 ====       ====      ===      ===       ====
 
            EBITDA Margin, as
             adjusted            40.4%      26.9%    15.5%     N/M%      24.1%
                                 ====       ====     ====      ===       ====
 
 
 
                                     Six Months Ended June 30, 2008
                                      ------------------------------
                                                            Corporate
                             Financial   Payment    Inter-    and     Consoli-
                             Solutions  Solutions  national  Other     dated
                             ---------  ---------  -------- --------- --------
    Revenue from
         Operations            $561.2     $756.7   $383.7    $(1.6)  $1,700.0
 
          Operating Income     $147.4     $158.4    $19.8  $(216.5)    $109.1
          M&A, Restructuring
           and Integration Costs   -          -        -      44.1       44.1
          Corporate Costs
           Non - Disc. Ops         -          -        -      18.0       18.0
          LPS Spin-off Costs       -          -        -       8.5        8.5
                                  ---        ---      ---      ---        ---
            EBIT, as adjusted  $147.4     $158.4    $19.8  $(145.9)    $179.7
                               ======     ======    =====  =======     ======
 
          Depreciation and
           Amortization from
           Continuing
            Operations, as
             adjusted            61.5       24.2     28.6    84.0       198.3
                                 ----       ----     ----    ----       -----
            EBITDA, as
             adjusted          $208.9     $182.6    $48.4  $(61.9)     $378.0
                               ======     ======    =====  ======      ======
 
            EBIT Margin, as
             adjusted            26.3%      20.9%     5.2%    N/M%       10.6%
                                 ====       ====      ===     ===        ====
 
            EBITDA Margin, as
             adjusted            37.2%      24.1%    12.6%    N/M%       22.2%
                                 ====       ====     ====     ===        ====
 
 
      Total Revenue Growth
       from Prior Year Period
 
          Six Months Ended
           June 30, 2009         -2.3%      -1.6%   -11.2%    N/M%       -4.0%
                                 ====       ====    =====     ===        ====
 
          Six Months Ended
           June 30, 2008         16.7%      26.3%    36.3%    N/M%       25.0%
                                 ====       ====     ====     ===        ====
 
 
 
                                                                    Exhibit D
 
                    FIDELITY NATIONAL INFORMATION SERVICES, INC.
         RECONCILIATION OF PRO FORMA TO ADJUSTED PRO FORMA CASH FLOW MEASURES
                                   - UNAUDITED
                                   (In millions)
 
                                 Three Months              Six Months
                                     Ended                    Ended
                                 June 30, 2009            June 30, 2009
                             ---------------------     ---------------------
                             GAAP     Adj  Adjusted    GAAP   Adj   Adjusted
                             ----     ---  --------    ----   ---   --------
    Cash flows from operating
     activities:
    Net earnings (2)         $59.6   $1.0     $60.6    $92.3    $6.0    $98.3
    Adjustments to reconcile
     net earnings
      to net cash provided
      by operating activities:
        Non-cash adjustments  69.0     -       69.0    172.2      -     172.2
        Working capital
         adjustments (3)      39.9    6.0      45.9     66.6     3.0     69.6
                              ----    ---      ----     ----     ---     ----
 
          Net cash provided
           by operating
           activities        168.5    7.0     175.5    331.1     9.0    340.1
 
    Capital expenditures     (50.9)    -      (50.9)   (96.2)     -     (96.2)
                              ----    ---      ----     ----     ---     ----
 
 
    Net free cash flow      $117.6   $7.0    $124.6   $234.9    $9.0   $243.9
                            ======   ====    ======   ======    ====   ======
 
 
 
                                  Three Months             Six Months
                                     Ended                    Ended
                                 June 30, 2008            June 30, 2008
                             ---------------------     ---------------------
                              Pro          Adj Pro      Pro           Adj Pro
                            forma (1) Adj   forma     forma (1)  Adj   forma
                            --------  ---  --------   ---------  ---  -------
 
    Cash flows from
     operating activities:
    Net earnings (4)         $15.0  $29.0     $44.0    $31.0   $37.0    $68.0
    Adjustments to reconcile
     net earnings
      to net cash provided
      by operating
      activities:
        Non-cash adjustments 119.0     -      119.0    233.0      -     233.0
        Working capital
         adjustments (3)     (43.0)  18.0     (25.0)  (145.0)   65.0    (80.0)
                             -----   ----     -----   ------    ----    -----
 
          Net cash provided
           by operating
           activities         91.0   47.0      138.0    119.0   102.0   221.0
 
    Capital expenditures     (52.0)    -      (52.0)  (130.0)     -    (130.0)
                              ----    ---      ----    -----     ---    -----
 
 
    Net free cash flow       $39.0  $47.0     $86.0   $(11.0) $102.0    $91.0
                             =====  =====     =====   ======  ======    =====
 
 
    (1)  Pro forma cash flows are presented as if the LPS spin-off was
         completed on January 1, 2008 and represents FIS on a post-spin basis.
 
    (2)  Adjustments to Net Earnings reflect the elimination of the after-tax
         impact of non-recurring M&A and related integration costs.
 
    (3)  Adjustments to working capital reflect elimination of settlement of
         various acquisition related liabilities and for the 2009 period,
         the elimination of current accruals related to the announced
         acquisition of Metavante.
 
    (4)  Adjustments to Net Earnings reflect the elimination of the after-tax
         impact of non-recurring M&A and related integration costs, costs
         associated with the LPS spin-off, restructuring costs and the
         elimination of corporate costs attributable to LPS.
 
 
 
                                                                    Exhibit E
 
                    FIDELITY NATIONAL INFORMATION SERVICES, INC.
                    GAAP TO NON-GAAP RECONCILIATION - UNAUDITED
                       (in millions, except per share data)
 
                             GAAP                                   Non-GAAP
                        Three Months   M&A                        Three Months
                            Ended  Restructuring        Purchase     Ended
                           June 30,    And                Price     June 30,
                             2009   Integration Sub-    Amortiza-     2009
                         (Unaudited) Costs (1)  total    tion (4)  (Unaudited)
                         -----------------------------------------------------
    Processing and
     Services revenue       $834.8      $-     $834.8       $-      $834.8
    Cost of revenues         602.7       -      602.7    (29.2)      573.5
                             -----       -      -----    -----       -----
    Gross profit             232.1       -      232.1     29.2       261.3
                             -----      ---     -----     ----       -----
 
 
    Selling, general and
     administrative           93.2    (2.1)      91.1       -         91.1
    Research and development
     costs                    21.5      -        21.5       -         21.5
                              ----     ---       ----      ---        ----
    Operating income         117.4     2.1      119.5     29.2       148.7
                             -----     ---      -----     ----       -----
 
    Other income (expense):
    Interest income            0.5      -         0.5       -          0.5
    Interest expense         (31.8)     -       (31.8)      -        (31.8)
    Other income, net          5.5      -         5.5       -          5.5
                               ---      -         ---       -          ---
    Total other income
     (expense)               (25.8)     -       (25.8)      -        (25.8)
                              ----     ---       ----       -         ----
 
    Earnings from
     continuing
     operations before
     income taxes,            91.6     2.1       93.7     29.2       122.9
    Provision (benefit)
     for income taxes         31.6     0.7       32.3     10.1        42.4
                              ----     ---       ----     ----        ----
 
    Earnings from continuing
     operations               60.0     1.4       61.4     19.1        80.5
    Loss from discontinued
     operations               (0.4)     -        (0.4)      -         (0.4)
 
                               ----    ---        ---      ---         ---
    Net earnings               59.6    1.4       61.0     19.1        80.1
    Noncontrolling interest    (0.4)    -        (0.4)      -         (0.4)
                               ----    ---        ---      ---         ---
 
    Net earnings attributable
     to FIS                   $59.2   $1.4      $60.6    $19.1       $79.7
                              =====   ====      =====    =====       =====
 
    Amounts attributable
     to FIS common
     stockholders
      Net earnings from
       continuing
       operations, net
       of tax                 $59.6   $1.4      $61.0    $19.1       $80.1
      (Loss) earnings from
       discontinued
       operations,
       net of tax              (0.4)    -        (0.4)      -        (0.4)
                                ---    ---        ---      ---        ---
      Net earnings
       attributable to
        FIS common
         stockholders         $59.2   $1.4      $60.6    $19.1       $79.7
                              =====   ====      =====    =====       =====
 
    Net earnings per share -
     diluted from continuing
     operations attributable
     to FIS common
     stockholders *           $0.31  $0.01      $0.32    $0.10       $0.42
                              =====  =====      =====    =====       =====
    Weighted average shares
     outstanding - diluted    192.7  192.7      192.7    192.7       192.7
                              =====  =====      =====    =====       =====
 
 
 
    Supplemental Information:
 
    Depreciation and
     amortization from
     continuing operations                      $92.1   $(29.2)      $62.9
                                                =====   ======       =====
 
    Stock compensation
     expense from continuing
     operations, excluding
     acceleration charges                                             $8.8
    Stock acceleration charges                                          -
                                                                        -
    Total stock compensation
     expense from continuing
     operations                                                       $8.8
                                                                      ====
 
 
    * Amounts may not sum due to rounding.
 
    See accompanying notes.
 
 
 
                                                                    Exhibit E
 
                   FIDELITY NATIONAL INFORMATION SERVICES, INC.
                   GAAP TO NON-GAAP RECONCILIATION - UNAUDITED
                       (in millions, except per share data)
 
                           GAAP                                     Non-GAAP
                        Six Months   M&A                           Six Months
                          Ended  Restructuring        Purchase        Ended
                         June 30,    And                Price       June 30,
                           2009   Integration   Sub-   Amortiza-      2009
                       (Unaudited) Costs (1)   total   tion (4)    (Unaudited)
                         -----------------------------------------------------
    Processing and
     services revenue   $1,632.6    $-       $1,632.6        $-      $1,632.6
    Cost of revenues     1,199.9     -        1,199.9     (59.3)      1,140.6
                         -------     -        -------     -----       -------
    Gross profit           432.7     -          432.7      59.3         492.0
                           -----    ---         -----      ----         -----
 
    Selling, general
     and administrative    189.3   (9.4)        179.9        -          179.9
    Research and
     development costs      44.1     -           44.1        -           44.1
                            ----    ---          ----       ---          ----
    Operating income       199.3    9.4         208.7      59.3         268.0
                           -----    ---         -----      ----         -----
 
    Other income (expense):
    Interest income          1.3     -            1.3        -            1.3
    Interest expense       (63.8)    -          (63.8)       -          (63.8)
    Other income, net        6.7     -            6.7        -            6.7
                             ---     -            ---        -            ---
    Total other income
     (expense)             (55.8)    -          (55.8)       -          (55.8)
                            ----    ---          ----       ---          ----
 
    Earnings from
     continuing
     operations before
     income taxes          143.5    9.4         152.9      59.3         212.2
    Provision (benefit)
     for income taxes       49.5    3.2          52.7      20.5          73.2
                            ----    ---          ----      ----          ----
 
    Earnings from
     continuing operations  94.0    6.2         100.2      38.8         139.0
    Loss from discontinued
     operations             (1.7)    -           (1.7)       -           (1.7)
                             ---    ---           ---       ---           ---
    Net earnings            92.3    6.2          98.5      38.8         137.3
    Noncontrolling
     interest               (0.1)    -           (0.1)       -           (0.1)
                            ----    ---           ---       ---           ---
 
    Net earnings
     attributable to FIS   $92.2   $6.2         $98.4     $38.8        $137.2
                           =====   ====         =====     =====        ======
 
    Amounts attributable
     to FIS common
     stockholders
      Net earnings from
       continuing
       operations, net of
       tax                 $93.9   $6.2        $100.1     $38.8        $138.9
      (Loss) earnings from
       discontinued
       operations, net of
       tax                  (1.7)    -           (1.7)       -           (1.7)
                            ----    ---           ---       ---           ---
      Net earnings
       attributable to
       FIS common
       stockholders        $92.2   $6.2         $98.4     $38.8        $137.2
                           =====   ====         =====     =====        ======
 
    Net earnings per
     share - diluted from
     continuing operations
     attributable to FIS
     common stockholders * $0.49  $0.03         $0.52     $0.20         $0.72
                           =====  =====         =====     =====        =====
    Weighted average
     shares outstanding -
     diluted               192.2  192.2         192.2     192.2         192.2
                           =====  =====         =====     =====         =====
 
 
    Supplemental Information:
 
    Depreciation and
     amortization from
     continuing
     operations                                $184.1    $(59.3)       $124.8
                                               ======    ======        ======
 
    Stock compensation
     expense from continuing
     operations, excluding
     acceleration charges                                               $18.3
    Stock acceleration charges
                                                                            -
                                                                            -
    Total stock compensation
     expense from
     continuing operations                                              $18.3
                                                                        =====
 
    *  Amounts may not sum due to rounding.
 
    See accompanying notes.
 
 
 
                                                                    Exhibit E
 
                    FIDELITY NATIONAL INFORMATION SERVICES, INC.
                    GAAP TO NON-GAAP RECONCILIATION - UNAUDITED
                         (in millions, except per share data)
 
                                                     M&A
                                       GAAP     Restructuring Corporate
                                   Three Months      And       Costs     LPS
                                      Ended      Integration  Non-Disc   Spin
                                  June 30, 2008      Costs      Ops     Costs
                                   (Unaudited)
                                    ----------   ----------   -------- ------
    Processing and services revenue    $869.7          $-         $-      $-
    Cost of revenues                    674.0       (24.0)         -       -
                                    ----------   ----------   -------- ------
    Gross profit                        195.7        24.0          -       -
 
    Selling, general and administrative 117.9        (5.1)      (9.0)   (5.6)
    Research and development costs       19.9           -          -       -
                                    ----------   ----------   -------- ------
    Operating income                     57.9        29.1        9.0     5.6
                                    ----------   ----------   -------- ------
 
    Other income (expense):
    Interest income                       1.5           -          -       -
    Interest expense                    (43.6)        2.7          -       -
    Other income, net                     1.3           -          -       -
                                    ----------   ----------   -------- ------
    Total other income (expense)        (40.8)        2.7          -       -
                                    ----------   ----------   -------- ------
 
    Earnings before income taxes         17.1        31.8        9.0     5.6
    Provision (benefit) for income taxes  3.3        11.3        2.7     2.0
    Equity in earnings (losses) of
     unconsolidated entities             (0.2)          -          -       -
                                    ----------   ----------   -------- ------
 
    Earnings from continuing operations  13.6        20.5        6.3     3.6
    Earnings from discontinued
     operations                          59.2           -          -       -
                                    ----------   ----------   -------- ------
    Net earnings                         72.8        20.5        6.3     3.6
    Noncontrolling interest              (0.9)          -          -       -
                                    ----------   ----------   -------- ------
 
    Net earnings attributable to FIS    $71.9       $20.5       $6.3    $3.6
                                    ==========   ==========   ======== ======
    Amounts attributable to FIS common
     stockholders
       Net earnings from continuing
        operations, net of tax          $13.3       $20.5       $6.3    $3.6
       (Loss) earnings from discontinued
        operations, net of tax           58.6           -          -       -
                                    ----------   ----------   -------- ------
       Net earnings attributable to
        FIS common stockholders         $71.9       $20.5       $6.3    $3.6
                                    ==========   ==========   ======== ======
    Net earnings per share - diluted
     from continuing operations
     attributable to FIS common
     stockholders*                      $0.07       $0.11      $0.03   $0.02
                                    ==========   ==========   ======== ======
    Weighted average shares outstanding
     - diluted                          194.4       194.4      194.4   194.4
                                    ==========   ==========   ======== ======
 
 
                                                                    Non-GAAP
                                                                     Three
                                                       Purchase      Months
                                                         Price       Ended
                                           Subtotal  Amortization   June 30,
                                                                      2008
                                                                  (Unaudited)
                                           --------  ------------  ---------
 
    Processing and services revenue          $869.7           $-      $869.7
    Cost of revenues                          650.0        (35.5)      614.5
                                           --------  ------------  ---------
    Gross profit                              219.7         35.5       255.2
                                           --------  ------------  ---------
 
    Selling, general and administrative        98.2            -        98.2
    Research and development costs             19.9            -        19.9
                                           --------  ------------  ---------
    Operating income                          101.6         35.5       137.1
                                           --------  ------------  ---------
 
    Other income (expense):
    Interest income                             1.5            -         1.5
    Interest expense                          (40.9)           -       (40.9)
    Other income, net                           1.3            -         1.3
                                           --------  ------------  ---------
    Total other income (expense)              (38.1)           -       (38.1)
                                           --------  ------------  ---------
 
    Earnings before income taxes               63.5         35.5        99.0
    Provision (benefit) for income taxes       19.3         12.4        31.7
    Equity in earnings (losses) of
     unconsolidated entities                   (0.2)           -        (0.2)
                                           --------  ------------  ---------
 
    Earnings from continuing operations        44.0         23.1        67.1
    Earnings from discontinued operations      59.2            -        59.2
                                           --------  ------------  ---------
    Net earnings                              103.2         23.1       126.3
    Noncontrolling interest                    (0.9)           -        (0.9)
                                           --------  ------------  ---------
 
    Net earnings attributable to FIS         $102.3        $23.1      $125.4
                                           ========  ============  =========
 
    Amounts attributable to FIS common
     stockholders
       Net earnings from continuing
        operations, net of tax                $43.7        $23.1       $66.8
      (Loss) earnings from discontinued
        operations, net of tax                 58.6            -        58.6
                                           --------  ------------  ---------
       Net earnings attributable to FIS
        common stockholders                  $102.3        $23.1      $125.4
                                           ========  ============  =========
 
    Net earnings per share - diluted from
     continuing operations attributable to
     FIS common stockholders*                 $0.22        $0.12       $0.34
                                           ========  ============  =========
    Weighted average shares outstanding
     - diluted                                194.4        194.4       194.4
                                           ========  ============  =========
 
 
 
    Supplemental Information:
 
    Depreciation and amortization from
     continuing operations                    $96.4       $(35.5)      $60.9
                                           ========  ============  =========
    Stock compensation expense from
     continuing operations,
     excluding acceleration charges                                     $8.6
    Stock acceleration charges                                           2.5
                                                                   ---------
    Total stock compensation expense from
     continuing operations                                             $11.1
                                                                   =========
 
    *   Amounts may not sum due to rounding.
 
    See accompanying notes.
 
 
 
                                                                    Exhibit E
 
                   FIDELITY NATIONAL INFORMATION SERVICES, INC.
                   GAAP TO NON-GAAP RECONCILIATION - UNAUDITED
                       (in millions, except per share data)
 
                                            M&A
                              GAAP      Restructuring    Corporate
                            Six Months      And           Costs       LPS
                              Ended      Integration     Non-Disc     Spin
                          June 30, 2008     Costs          Ops       Costs
                            (Unaudited)
                           ------------  ----------    -----------  --------
    Processing and
     services revenue          $1,700.0        $-          $-           $-
    Cost of revenues            1,322.7     (24.0)          -            -
                           ------------  ----------    -----------  --------
    Gross profit                  377.3      24.0           -            -
                           ------------  ----------    -----------  --------
 
    Selling, general and
     administrative               229.0     (20.1)      (18.0)        (8.5)
    Research and development
     costs                         39.2         -           -            -
                           ------------  ----------    -----------  --------
    Operating income              109.1      44.1        18.0          8.5
                           ------------  ----------    -----------  --------
 
    Other income (expense):
    Interest income                 4.3         -           -            -
    Interest expense              (82.4)      2.7           -            -
    Other income, net               0.1         -           -            -
                           ------------  ----------    -----------  --------
    Total other income
     (expense)                    (78.0)      2.7           -            -
                           ------------  ----------    -----------  --------
 
    Earnings before income
     taxes                         31.1      46.8        18.0          8.5
    Provision (benefit)
     for income taxes               6.6      16.8         5.5          3.1
    Equity in earnings (losses)
     of unconsolidated entities    (0.2)        -           -            -
                           ------------  ----------    -----------  --------
    Earnings from continuing
     operations                    24.3      30.0        12.5          5.4
    Earnings from discontinued
     operations                   118.8         -           -            -
                           ------------  ----------    -----------  --------
    Net earnings                  143.1      30.0        12.5          5.4
    Noncontrolling interest        (0.7)        -           -            -
                           ------------  ----------    -----------  --------
 
    Net earnings attributable
     to FIS                      $142.4     $30.0        $12.5        $5.4
                           ============  ==========    ===========  ========
 
    Amounts attributable to FIS
     common stockholders
       Net earnings from
        continuing operations,
        net of tax                $24.2     $30.0        $12.5        $5.4
      (Loss) earnings from
        discontinued operations,
        net of tax                118.2         -            -           -
                           ------------  ----------    -----------  --------
       Net earnings attributable
        to FIS common
        stockholders             $142.4     $30.0        $12.5        $5.4
                           ============  ===========   ===========  ========
    Net earnings per share
     - diluted from continuing
     operations attributable to
     FIS common stockholders*     $0.12     $0.15        $0.06        $0.03
                           ============  ===========   ===========  ========
 
    Weighted average shares
     outstanding - diluted        195.5     195.5        195.5        195.5
                           ============  ===========   ===========  ========
 
 
                                                                  Non-GAAP
                                                    Purchase     Six Months
                                                      Price         Ended
                                         Subtotal  Amortization    June 30,
                                                                     2008
                                                                 (Unaudited)
                                        ---------   ----------   -----------
 
    Processing and services revenue      $1,700.0        $-        $1,700.0
    Cost of revenues                      1,298.7     (72.0)        1,226.7
                                        ---------   ----------   -----------
    Gross profit                            401.3      72.0           473.3
                                        ---------   ----------   -----------
    Selling, general and administrative     182.4         -           182.4
    Research and development costs           39.2         -            39.2
                                        ---------   ----------   -----------
    Operating income                        179.7      72.0           251.7
                                        ---------   ----------   -----------
    Other income (expense):
    Interest income                           4.3         -             4.3
    Interest expense                        (79.7)        -           (79.7)
    Other income, net                         0.1         -             0.1
                                        ---------   ----------   -----------
    Total other income (expense)            (75.3)        -           (75.3)
                                        ---------   ----------   -----------
 
    Earnings before income taxes            104.4      72.0           176.4
    Provision (benefit) for income taxes     32.0      25.3            57.3
    Equity in earnings (losses) of
     unconsolidated entities                 (0.2)        -            (0.2)
                                        ---------   ----------   -----------
 
    Earnings from continuing operations      72.2      46.7           118.9
    Earnings from discontinued operations   118.8         -           118.8
                                        ---------   ----------   -----------
    Net earnings                            191.0      46.7           237.7
    Noncontrolling interest                  (0.7)        -            (0.7)
                                        ---------   ----------   -----------
 
    Net earnings attributable to FIS       $190.3     $46.7          $237.0
                                        =========   ==========   ===========
 
    Amounts attributable to FIS common
     stockholders
       Net earnings from continuing
        operations, net of tax              $72.1     $46.7          $118.8
      (Loss) earnings from discontinued
        operations, net of tax              118.2         -           118.2
                                        ---------   ----------   -----------
       Net earnings attributable to
        FIS common stockholders            $190.3     $46.7          $237.0
                                        =========   ==========   ===========
 
    Net earnings per share - diluted
     from continuing operations
     attributable to FIS common
     stockholders*                          $0.37     $0.24           $0.61
                                        =========   ==========   ===========
    Weighted average shares outstanding
     - diluted                              195.5     195.5          195.5
                                        =========   ==========   ===========
 
 
    Supplemental Information:
 
    Depreciation and amortization from
     continuing operations                 $198.3    $(72.0)        $126.3
                                        =========   ==========   ===========
    Stock compensation expense from
     continuing operations,
     excluding acceleration charges                                  $16.4
    Stock acceleration charges                                        16.7
                                                                 -----------
    Total stock compensation expense
     from continuing operations                                      $33.1
                                                                 ===========
 
    *   Amounts may not sum due to rounding.
 
    See accompanying notes.
 
 
    Notes to Unaudited - Supplemental GAAP to Non-GAAP Reconciliation for the
    Three-Month and Six-Month Periods ended June 30, 2009 and 2008
 
    The adjustments are as follows:
 
    (1)  This column represents charges for restructuring and integration
         costs relating to merger and acquisition activities.  For the three
         and six months ended June 30, 2009, the amounts represent incremental
         transaction costs incurred by the Company related to the previously
         announced acquisition of Metavante Technologies, Inc.
 
    (2)  This column represents corporate costs attributable to LPS as
         previously reported in our investor package furnished on form 8-K on
         May 28, 2008.  These amounts are not allocable to discontinued
         operations under U.S. Generally Accepted Accounting Principles.
 
    (3)  This column represents incremental transaction costs incurred by the
         Company directly related to the LPS spin-off.
 
    (4)  This column represents purchase price amortization expense on
         intangibles assets acquired through various Company acquisitions.
 

SOURCE Fidelity National Information Services, Inc.

http://www.fidelityinfoservices.com