Business Context and Reporting Period
Company: Fidelity National Information Services, Inc. (FIS)
Filing Type: Form 8-K (Current Report)
Date of Report: February 23, 2011
Event: Regulation FD Disclosure regarding presentation materials for the Baird Business Solutions Conference held on February 23 and 24, 2011.
Key Financial Metrics
This filing does not contain specific historical financial data (revenue, profit, cash flow, margins, debt, or liquidity) for the reporting period. The document serves as a notice that presentation materials containing such data were furnished to investors. Specific numerical values for 2010 or 2011 are referenced as being located in the attached Exhibit 99.1 (Presentation Materials) but are not explicitly stated in the text of this 8-K.
Material Changes and Outlook
- Full Year 2011 Outlook: The Company is reiterating its previously stated full-year 2011 outlook.
- First Quarter 2011 Outlook: The Company is providing additional information regarding its outlook for the first quarter of 2011.
- Source of Data: Specific details regarding adjusted revenue, organic revenue, earnings per share, margin expansion, and cash flow are contained in slides 17, 18, and 19 of the presentation materials (Exhibit 99.1).
Management Commentary, Risks, and Contingencies
The filing includes a comprehensive "Forward-Looking Statements" disclaimer. Management notes that actual results could differ materially from expectations due to various risks, including:
- Changes in general economic, business, and political conditions, including international hostilities and acts of terrorism.
- Changes in U.S. and international lending, capital, and financial markets.
- Legislative initiatives, statutory changes, and regulatory requirements (including privacy regulations).
- Substantial leverage limiting funds for acquisitions and investment.
- Revenue reduction risks due to industry consolidation or financial failures of customers in banking, retail, and financial services.
- Technology adaptation failures and security breaches (theft of personal information, computer viruses).
- Acquisition risks, including integration difficulties and financing availability.
- Competitive pressures on pricing and customer retention.
- Operational or natural disasters at major operations centers.
Legal Status: The information, including the presentation materials, is "furnished" and not "filed" under Section 18 of the Exchange Act and shall not be incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 (Presentation Materials) for specific numerical guidance on 2011 full-year and Q1 adjusted revenue, organic revenue, EPS, and cash flow.
- Verify the specific assumptions regarding margin expansion and organic growth rates detailed in the conference slides.
- Assess the impact of the Company's substantial leverage on its ability to fund future acquisitions as noted in the risk factors.
- Monitor regulatory changes in the banking and financial services sectors that could affect customer consolidation or revenue streams.