SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the quarterly period ended September 30, 2002 |
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the transition period from to |
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Commission File No. 001-16427
Certegy Inc.
(Exact name of registrant as specified in its charter)
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Georgia |
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58-2606325 |
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(State or other jurisdiction of |
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(I.R.S. Employer Identification No.) |
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incorporation or organization) |
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11720 Amber Park Drive |
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30004 |
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Alpharetta, Georgia |
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(Zip Code) |
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(Address of principal executive offices) |
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(678) 867-8000
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ý No o
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
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Title of each class |
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Number of shares |
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Common stock, $0.01 par value |
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66,378,338 |
CERTEGY INC.
INDEX
CERTEGY INC.
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
(In thousands, except per share amounts)
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Three
Months Ended |
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2002 |
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2001 |
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Revenues (Note 2) |
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$ |
254,506 |
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$ |
237,982 |
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Operating expenses: |
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Costs of services (Note 2) |
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179,132 |
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170,650 |
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Selling, general and administrative expenses |
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28,718 |
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24,611 |
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Asset impairment and other charges (Note 3) |
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9,365 |
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— |
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217,215 |
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195,261 |
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Operating income |
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37,291 |
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42,721 |
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Other income, net |
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151 |
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383 |
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Interest expense |
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(1,619 |
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(3,664 |
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Income before income taxes |
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35,823 |
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39,440 |
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Provision for income taxes |
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(13,840 |
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(15,381 |
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Net income |
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$ |
21,983 |
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$ |
24,059 |
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Basic (Note 4): |
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Earnings per share |
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$ |
0.32 |
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$ |
0.35 |
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Pro forma earnings per share |
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$ |
0.38 |
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Average shares outstanding |
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68,850 |
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68,618 |
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Diluted (Note 4): |
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Earnings per share |
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$ |
0.32 |
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$ |
0.35 |
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Pro forma earnings per share |
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$ |
0.37 |
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Average shares outstanding |
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69,451 |
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69,368 |
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The accompanying notes are an integral part of these Consolidated Financial Statements.
3
CERTEGY INC.
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
(In thousands, except per share amounts)
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Nine
Months Ended |
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2002 |
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2001 |
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Revenues (Note 2) |
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$ |
744,717 |
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$ |
681,361 |
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Operating expenses: |
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Costs of services (Note 2) |
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547,176 |
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501,560 |
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Selling, general and administrative expenses |
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84,786 |
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74,740 |
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Asset impairment and other charges (Note 3) |
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9,365 |
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— |
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641,327 |
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576,300 |
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Operating income |
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103,390 |
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105,061 |
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Other income (expense), net |
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922 |
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(123 |
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Interest expense |
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(5,345 |
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(4,099 |
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Income before income taxes and minority interests |
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98,967 |
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100,839 |
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Provision for income taxes |
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(37,993 |
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(39,327 |
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