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425
FIDELITY NATIONAL INFORMATION SERVICES, INC. filed this Form 425 on 05/13/2019
Entire Document
 


Worldpay, Inc.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

 

20. QUARTERLY CONSOLIDATED RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth our unaudited results of operations on a quarterly basis for the years ended December 31, 2018 and 2017 (in millions).

 

     Dec 31,
2018
     Sep 30,
2018
     Jun 30,
2018
    Mar 31,
2018
    Dec 31,
2017
    Sep 30,
2017
     Jun 30,
2017
     Mar 31,
2017
 

Revenue

   $ 1,050.0      $ 1,017.9      $ 1,006.8     $ 850.7     $ 1,065.9     $ 1,033.7      $ 998.7      $ 928.2  

Network fees and other costs (1)

     —          —          —         —         496.9       479.5        468.7        458.1  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Net revenue

     1,050.0        1,017.9        1,006.8       850.7       569.0       554.2        530.0        470.1  

Sales and marketing

     286.5        295.8        283.4       266.0       172.4       173.8        168.3        155.0  

Other operating costs

     182.6        174.8        185.5       155.1       84.4       79.4        79.0        75.9  

General and administrative

     134.5        140.7        136.8       250.1       105.5       49.6        50.7        89.3  

Depreciation and amortization

     271.0        328.9        287.9       207.2       81.5       82.5        78.4        76.1  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Income from operations

   $ 175.4      $ 77.7      $ 113.2     $ (27.7   $ 125.2     $ 168.9      $ 153.6      $ 73.8  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Net income (loss)

   $ 115.8      $ 3.6      $ (1.5   $ (98.3   $ (46.4   $ 106.9      $ 86.9      $ 35.3  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Net income (loss) attributable to Worldpay, Inc.

   $ 110.5      $ 2.8      $ (2.9   $ (97.6   $ (59.7   $ 92.1      $ 68.8      $ 28.9  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Net income (loss) per share attributable to Worldpay, Inc.
Class A common stock:

 

Basic

   $ 0.37      $ 0.01      $ (0.01   $ (0.36   $ (0.37   $ 0.57      $ 0.43      $ 0.18  

Diluted

   $ 0.36      $ 0.01      $ (0.01   $ (0.36   $ (0.37   $ 0.57      $ 0.42      $ 0.17  

 

(1) 

For 2018 quarters, network fees and other costs are netted within revenue as the result of the Company’s adoption of ASC 606 on January 1, 2018.

Our results of operations are subject to seasonal fluctuations in our revenue as a result of consumer spending patterns. Historically our revenues have been the strongest in the fourth quarter and weakest in our first quarter.

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