EX-99.1 3 dex991.htm CONCORD EFS, INC. FINANCIAL RESULTS FOR THREE AND SIX MONTHS ENDED 09/30/2003 Concord EFS, Inc. financial results for three and six months ended 09/30/2003

Exhibit 99.1

 

The following table presents selected consolidated financial data (in thousands, except earnings per share) for the third quarter 2003 and 2002.

 

     Quarter Ended:

 
     Sept 30, 2003

   Sept 30, 2002

 

Revenue

   $ 588,486    $ 514,389  

Cost of Operations

     421,922      367,179  

Selling, General and Administrative Expenses

     34,139      31,233  

Merger, Acquisition, Restructuring and Write-Off Charges

     9,491      —    

Litigation Settlement Charges (Credits)

     —        (11,000 )
    

  


Operating Income

     122,934      126,977  

Investment Income

     12,455      20,653  

Interest Expense

     1,890      3,054  

Other Income, net

     7,166      1,023  

Income Taxes

     47,826      50,959  

Minority Interest in Subsidiary

     255      311  
    

  


Net Income

   $ 92,584    $ 94,329  
    

  


Basic Earnings Per Share

   $ 0.19    $ 0.18  

Diluted Earnings Per Share

   $ 0.19    $ 0.18  

Shares Used For:

               

Basic Earnings Per Share

     475,382      512,546  

Diluted Earnings Per Share

     486,749      527,856  

 


The following table presents selected consolidated financial data (in thousands, except earnings per share) for the nine months ended September 30, 2003 and 2002.

 

     Nine Months Ended:

     Sept 30, 2003

   Sept 30, 2002

Revenue

   $ 1,678,391    $ 1,424,251

Cost of Operations

     1,220,768      980,996

Selling, General and Administrative Expenses

     100,393      88,372

Merger, Acquisition, Restructuring and Write-Off Charges

     17,440      76,506

Litigation Settlement Charges

     —        9,761
    

  

Operating Income

     339,790      268,616

Investment Income

     41,718      59,723

Interest Expense

     6,259      8,816

Other Income, net

     18,314      7,937

Income Taxes

     136,340      115,033

Minority Interest in Subsidiary

     806      671
    

  

Net Income

   $ 256,417    $ 211,756
    

  

Basic Earnings Per Share

   $ 0.53    $ 0.41

Diluted Earnings Per Share

   $ 0.52    $ 0.40

Shares Used For:

             

Basic Earnings Per Share

     482,830      510,973

Diluted Earnings Per Share

     493,356      530,255