Business Context and Reporting Period
This Form 8-K is filed by Certegy Inc. (not Fidelity National Information Services, Inc.) on April 21, 2004. The report serves to furnish the Company's press release announcing financial results for the first quarter of 2004 pursuant to Item 12.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release (Exhibit 99.1) containing these figures but does not reproduce the data within the body of this 8-K.
The report highlights the presentation of both GAAP and non-GAAP measures for:
- Operating income
- Net income
- Earnings per share
Material Changes and Non-GAAP Adjustments
Management presents non-GAAP financial measures that exclude specific charges to better evaluate core operating results. The excluded items include:
- Contract termination charges
- Other unspecified charges
The filing states that the attached press release reconciles these non-GAAP measures to the most directly comparable GAAP measures.
Management Commentary and Risks
Management Commentary: Management believes excluding the described charges allows for a more meaningful and consistent comparison of core operating results from period to period. However, they caution that non-GAAP measures should not be considered in isolation or as an alternative to GAAP financial measures.
Legal Disclaimer: The information is furnished solely pursuant to Item 12 and is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934, limiting its liability exposure compared to filed documents.
Investor Verification Checklist
- Verify the specific Q1 2004 revenue, net income, and EPS figures in the attached Exhibit 99.1 (Press Release).
- Review the reconciliation table in the press release to understand the magnitude of the contract termination and other charges excluded from non-GAAP results.
- Confirm the distinction between GAAP and non-GAAP operating income to assess the impact of one-time items on profitability.
- Note that this filing is for Certegy Inc., not Fidelity National Information Services, Inc.