Fidelity National Information Services, Inc. (NYSE:FIS) Q4 2015 Earnings Conference Call - Final Transcript

Feb 09, 2016 • 08:30 am ET


Fidelity National Information Services, Inc. (NYSE:FIS) Q4 2015 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the FIS Fourth Quarter Year-end 2015 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will be given at that time. [Operator Instructions]. As a reminder, today's call is being recorded.

I would now like to turn the conference over to your host, Pete Gunnlaugsson. Please go ahead.

Pete Gunnlaugsson

Thank you, Brian. Good morning, everyone, and welcome to our fourth quarter and full year 2015 earnings call. Turning to Slide 2, Gary Norcross, our President and Chief Executive Officer, will begin with a business summary. Woody Woodall, Chief Financial Officer, will continue with the financial results for the quarter and full year. Today's news release and the supplemental slide presentation are available on our website at

Turning to Slide 3, today's remarks will contain forward-looking statements. These statements are subject to risks and uncertainties as described in the press release and other filings with the SEC. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Please refer to the Safe Harbor language.

Today's remarks will also include references to non-GAAP financial measures in order to provide more meaningful comparisons between the periods presented. These non-GAAP measures are outlined on Slide 3 as well. Reconciliations between the GAAP and non-GAAP results are provided in the attachments to the press release and in the Appendix of the supplemental slide presentation.

Turning to Slide 4, I will turn the call over to Gary to discuss the business highlights. Gary?

Gary Norcross

Thank you Pete. Good morning everyone and thank you joining us on today's call. I am pleased to report that we exited 2015 with solid momentum as the team's focused on execution and driving further improvements in our cost structure and overall performance, delivering continued earnings growth. We were in the right markets empowering our clients of all sizes, whether here in the US with community and regional banks or globally.

Our long term strategy has consistently driven year-over-year performance results, and we remain committed to our strategy. Turning to Slide 5, we continue to build global scale in 2015, finalizing our acquisition of SunGard and finishing the year with revenue increasing 7% on a constant currency basis to 6.6 billion, growing adjusted EBITDA 8% on a constant currency basis to 2 billion, and producing adjusted earnings per share of 6% on a constant currency basis to $3.22.

We generated 921 million of free cash flow in return to 605 million to shareholders. Strategically, we are investing in the business to deliver long term growth and superior shareholder returns. We are entering 2016 focused on three growth drivers; first, the acquisition of SunGard broadens our solution portfolio allowing us to expand and renew in adjacent markets and provide deeper value to our clients. Second, we will continue to capitalize on our expanded scale, operating