Fidelity National Information Services (FIS) 8-K Results of Operations and Financial Condition

Exhibit 99.1

PRESS RELEASE

FIDELITY NATIONAL INFORMATION SERVICES, INC. REPORTS STRONG FIRST QUARTER RESULTS
First Quarter Pro Forma Revenue Growth of 13.1%

     Jacksonville, Fla. —April 25, 2007— Fidelity National Information Services, Inc. (NYSE:FIS), a leading global provider of technology services to financial institutions, today announced financial results for the first quarter of 2007. Consolidated revenue increased to $1.1 billion, net earnings increased to $59.5 million and net earnings per diluted share was $0.30.

     FIS reported pro forma revenue growth of 13.1%, pro forma EBITDA growth of 14.1% and adjusted cash earnings per diluted share of $0.54. “We are very pleased with the outstanding first quarter performance,” stated FIS Chairman William P. Foley, II. “Excellent sales results, combined with a strong emphasis on improving our cost base, drove 20% growth in cash earnings per share. These strong results position us solidly to achieve our full year 2007 objectives.”

     FIS’ operating results are presented on a GAAP and on an adjusted pro forma basis, which management believes provides more meaningful comparisons between the periods presented. FIS’ 2006 pro forma results reflect a January 1, 2006 effective date for the merger between FIS and Certegy. Additionally, the adjusted pro forma results exclude certain merger and acquisition and integration expenses, certain stock compensation charges and debt restructuring charges. Reconciliations between GAAP and pro forma results are provided in the attachments to this press release, which are posted on the company’s website at http://www.fidelityinfoservices.com.

	1st Quarter	1st Quarter
GAAP	2007	2006
Total Revenue	$1,124.0 million	$900.9 million
Net Earnings	$59.5 million	$39.4 million
Net Earnings Per Diluted Share	$0.30	$0.23

	1st Quarter	1st Quarter
Adjusted Pro Forma (see Appendix A)	2007	2006	% Chg
Total Revenue	$1,124.0 million	$993.9 million	13.1%
EBITDA	$279.0 million	$244.6 million	14.1%
Net Earnings	$79.7 million	$58.6 million	35.9%
Net Earnings Per Diluted Share	$0.41	$0.30	36.7%
Cash Earnings	$105.3 million	$86.9 million	21.2%
Cash Earnings Per Diluted Share	$0.54	$0.45	20.0%
Diluted Shares Outstanding	195.8 million	195.1 million

     FIS presents its financial results in accordance with GAAP. However, in order to provide the investment community with a broader means of evaluating the operating performance of its operations, FIS also reports several non-GAAP measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), net earnings plus depreciation and amortization less capital expenditures (“Free Cash Flow”) and net earnings plus other tax-adjusted purchase price amortization (“Cash Earnings”). Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. Reconciliations between GAAP and non-GAAP results and schedules showing historical detail are provided in the attachments to this press release.

Pro Forma Segment Information

     FIS’ Transaction Processing Services generated revenue of $680.5 million, or 14.9% over the prior-year period, driven by 58.4% growth in International, 8.6% growth in Enterprise Solutions and 5.1% growth in Integrated Financial Solutions. Increased market share, expansion within the existing client base and the Company’s new item processing operation in Brazil contributed to the strong revenue growth. Transaction Processing Services’ EBITDA increased 20.8% over the prior-year quarter to $160.7 million. The EBITDA margin was 23.6%, a 120 basis point improvement over the first quarter of 2006.

     Lender Processing Services’ revenue increased 10.0% to $440.4 million, driven by 16.7% growth in Information Services, which continues to benefit from strong results within the default solutions and appraisal product lines. A 6.1% increase in title and settlement services revenue also contributed to the strong revenue growth. Lender Processing Services’ EBITDA was $138.6 million, or 3.3% above the prior year quarter. The EBITDA margin was 31.5% compared to 33.5% in the first quarter of 2006. The decline is primarily the result of strong growth in lower margin product lines, lower tax processing volumes and a decline in revenue from the Company’s investment property

exchange services. The first quarter 2007 EBITDA margin was comparable to the 31.7% margin reported for the fourth quarter of 2006.

     Additional segment and pro forma information is provided in the following table. Certain prior year numbers have been adjusted to reflect subsequent reclassifications between business units:

Segment Revenues	1st Quarter			1st Quarter
(amounts in millions)	2007			2006			% Chg
Transaction Processing Services:
Integrated Financial Solutions	$	283.7		$	270.0			5.1	%
Enterprise Solutions		259.1			238.6			8.6	%
International		138.2			87.3			58.4	%
Other		(0.5	)		(3.4	)		83.9	%
	$	680.5		$	592.5			14.9	%
Lender Processing Services:
Mortgage Processing	$	94.1		$	92.2			2.0	%
Information Outsourcing		346.3			296.8			16.7	%
Other		—			11.5			(100.0	%)
	$	440.4		$	400.5			10.0	%
Corporate	$	3.1		$	0.8			272.9	%
Total FIS	$	1,124.0		$	993.8			13.1	%

     Corporate expense for the first quarter of 2007 totaled $20.3 million. The $2.4 million, or 10.6%, decline from pro forma corporate expense of $22.7 million in the prior year quarter was attributable to the consolidation of duplicate administrative functions and the incremental impact of the Company’s leasing operation. These amounts were partially offset by a $4.7 million increase in stock option expense. The effective tax rate was 37.2% .

2007 Outlook

     The Company reiterated its guidance for earnings per diluted share of $1.97 to $2.03, and cash earnings per diluted share of $2.47 to $2.53. Management expects 2007 pro forma revenue growth to approach the high end of its previously announced guidance of 7% to 9%, and pro forma EBITDA growth to approach the high end of its previously announced guidance of 10% to 12%.

     FIS will host a call with investors and analysts to discuss first quarter results on Thursday, April 26, 2007, beginning at 8:30 a.m. Eastern time. Those wishing to participate via the webcast should access the call through FIS’ Investor Relations website at http://www.fidelityinfoservices.com. Those wishing to participate via the telephone may do so by calling 888-428-4473 (USA) or 612-332-0637 (International). The webcast replay will be available on FIS’ Investor Relations website. The telephone replay will be available through May 3, 2007, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 869678.

About Fidelity National Information Services

     Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. Approximately 50 percent of all U.S. residential mortgages are processed using FIS software. FIS is a member of Standard and Poor’s (S&P) 500^® Index and has been ranked the number one banking service provider in the world byAmerican Bankerand the research firm Financial Insights and the number two overall financial technology provider in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.

     Forward-Looking Statements

     This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; the effects of our substantial leverage, which may limit the funds available to make acquisitions and invest in our business; the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries; failures to adapt our services to changes in technology or in the marketplace; adverse changes in the level of real estate activity, which would adversely affect certain of our businesses; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; significant competition that our operating

subsidiaries face; and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE: Fidelity National Information Services, Inc.
CONTACT: Mary Waggoner, Senior Vice President, Investor Relations, 904-854-3282, mary.waggoner@fnf.com

###

FIDELITY NATIONAL INFORMATION SERVICES, INC.
AND SUBSIDIARIES AND AFFILIATES
UNAUDITED CONSOLIDATED RESULTS FOR THE THREE MONTHS ENDING MARCH 31, 2007 AND 2006
(In thousands, except per share data)

	Three months ended March 31,
	2007			2006
Processing and services revenues	$	1,124,066		$	900,936
Cost of revenues		813,316			622,337
Selling, general, and administrative expenses		119,483			145,729
Research and development costs		27,109			28,060
Operating income		164,158			104,810
Other income (expense) Interest income		689			1,891
Interest expense		(72,115	)		(43,268	)
Other income (expense)		668			(2,110	)
Total other income (expense)		(70,758	)		(43,487	)
Earnings before income taxes, equity earnings and minority interest		93,400			61,323
Provision for income taxes		34,745			23,487
Equity in earnings of unconsolidated entities		936			1,833
Minority interest		88			311
Net earnings	$	59,503		$	39,358
Net earnings per share-basic	$	0.31		$	0.23
Weighted average shares outstanding-basic		191,898			169,989
Net earnings per share-diluted	$	0.30		$	0.23
Weighted average shares outstanding-diluted		195,807			172,987

Appendix A- Historical Detail and Reconciliation of Non-GAAP Measures

NOTE: The Adjustments Column (2006 only) represents pro forma adjustments relating to the merger transaction between CEY and FIS to reflect as if the merger occurred January 1, 2006

EBITDA Detail

2007 Q1	FIS
Net Earnings	$	59,503
+ Interest Expense		72,115
+ Minority Interest		88
+ Income Taxes		34,745
+ Depreciation/Amort		110,612
- Interest Income		(689	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		(936	)
- Other (Income) Expense		(668	)
EBITDA	$	274,770

EBITDA Margin

2007 Q1	FIS
EBITDA	$	274,770
Revenue	$	1,124,066
EBITDA Margin		24.4	%

EBIT Detail

2007 Q1	FIS
Net Earnings	$	59,503
+ Interest Expense		72,115
+ Minority Interest		88
+ Income Taxes		34,745
- Interest Income		(689	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		(936	)
- Other (Income) Expense		(668	)
EBIT	$	164,158

EBIT Margin

2007 Q1	FIS
EBIT	$	164,158
Revenue	$	1,124,066
EBIT Margin		14.6	%
Adjusted Diluted EPS

2007 Q1	FIS
Net Earnings	$	59,503
Adjusted diluted EPS	$	0.30
Diluted Shares Outstanding		195,807

EBITDA Detail

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358		$	(42,523	)	$	(3,708	)	$	(6,873	)
+ Interest Expense		43,268			1,081			—			44,349
+ Minority Interest		311			—			—			311
+ Income Taxes		23,487			(26,396	)		(2,626	)		(5,535	)
+ Depreciation/Amort		96,795			4,274			6,856			107,925
- Interest Income		(1,891	)		—			—			(1,891	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		(1,833	)		—						(1,833	)
- Other (Income) Expense		2,110			123						2,233
EBITDA	$	201,605		$	(63,441	)	$	522		$	138,686

EBITDA Margin

2006 Q1	FIS			CEY-Jan			ADJ		Pro Forma
EBITDA	$	201,605		$	(63,441	)	$	522	$	138,686
Revenue	$	900,936		$	92,915		$	—	$	993,851
EBITDA Margin		22.4	%		-68.3	%				14.0	%

EBIT Detail

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358		$	(42,523	)	$	(3,708	)	$	(6,873	)
+ Interest Expense		43,268			1,081			—			44,349
+ Minority Interest		311			—			—			311
+ Income Taxes		23,487			(26,396	)		(2,626	)		(5,535	)
- Interest Income		(1,891	)		—			—			(1,891	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		(1,833	)		—			—			(1,833	)
- Other (Income) Expense		2,110			123			—			2,233
EBIT	$	104,810		$	(67,715	)	$	(6,334	)	$	30,761

EBIT Margin

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
EBIT	$	104,810		$	(67,715	)	$	(6,334	)	$	30,761
Revenue	$	900,936		$	92,915		$	—		$	993,851
EBIT Margin		11.6	%		-72.9	%					3.1	%
Adjusted Diluted EPS

2006 Q1	FIS		CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358	$	(42,523	)	$	(3,708	)	$	(6,873	)
Adjusted diluted EPS	$	0.23							$	(0.04	)
Diluted Shares Outstanding		172,987								195,111

Continued on following page

Cash Earnings

2007 Q1	FIS
Net Earnings	$	59,503
+ Tax Adjusted Purchase Price Amortization		25,612
Cash Earnings	$	85,115
Diluted Cash EPS	$	0.43
Diluted Shares Outstanding		195,807

Free Cash Flow

2007 Q1	FIS
Net Earnings	$	59,503
+ Depreciation/Amort		110,612
- Capital Expenditures		(70,116	)
Free Cash Flow	$	99,999

Financial Measures Excluding Non Recurring Items
EBITDA	$	274,770
Merger and Acquisition, and Integration Costs		4,278
EBITDA, excluding non recurring items	$	279,048
Net Earnings		59,503
Merger and Acquisition, and Integration Costs, net of tax		3,116
Debt Restructure Charge, net of tax		17,059
Net Earnings, excluding non recurring items	$	79,678
Weighted Average Shares		195,807
Net Earnings per diluted share	$	0.30
Merger and Acquisition, and Integration Costs per share		0.02
Debt Restructure Charge per share		0.09
Net Earnings per diluted share, excluding non recurring items	$	0.41
Cash Earnings		85,115
Merger and Acquisition, and Integration Costs, net of tax		3,116
Debt Restructure Charge, net of tax		17,059
Cash Earnings, excluding non recurring items	$	105,290
Weighted Average Shares		195,807
Cash Earnings per diluted share	$	0.43
Merger and Acquisition, and Integration Costs per share		0.02
Debt Restructure Charge per share		0.09
Cash Earnings per diluted share, excluding non recurring items	$	0.54
Free Cash Flow	$	99,999
Merger and Acquisition, and Integration Costs, net of tax		2,432
Debt Restructure Charge, net of tax		17,059
Free Cash Flow, excluding non recurring items	$	119,490

Cash Earnings

2006 Q1	FIS		CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358	$	(42,523	)	$	(3,708	)	$	(6,873	)
+ Tax Adjusted Purchase Price Amortization		24,520		233			3,524			28,277
Cash Earnings	$	63,878	$	(42,290	)	$	(184	)	$	21,404
Diluted Cash EPS	$	0.37							$	0.11
Diluted Shares Outstanding		172,987								195,111

Free Cash Flow

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358		$	(42,523	)	$	(3,708	)	$	(6,873	)
+ Depreciation/Amort		96,795			4,274			6,856			107,925
- Capital Expenditures		(69,264	)		(5,200	)		—			(74,464	)
Free Cash Flow	$	66,889		$	(43,449	)	$	3,148		$	26,588

Pro Forma Financial Measures Excluding Non Recurring Items
Pro Forma EBITDA	$	138,686
Merger and Acquisition, and Integration Costs		81,751
Performance Based Stock Option Costs		24,130
Pro Forma EBITDA, excluding non recurring items	$	244,567
Pro Forma Net Earnings		(6,873	)
Merger and Acquisition, and Integration Costs, net of tax		50,609
Performance Based Stock Option Costs, net of tax		14,888
Pro Forma Net Earnings, excluding non recurring items	$	58,624
Weighted Average Shares		172,987
Adjustment as if transaction took place 1/1/2006		22,124
Pro Forma Weighted Average Shares		195,111
Pro Forma Net Earnings per diluted share	$	(0.04	)
Merger and Acquisition, and Integration Costs per share		0.26
Performance Based Stock Option Costs per share		0.08
Pro Forma Net Earnings per diluted share, excluding non recurring items	$	0.30
Pro Forma Cash Earnings		21,404
Merger and Acquisition, and Integration Costs, net of tax		50,609
Performance Based Stock Option Costs, net of tax		14,888
Pro Forma Cash Earnings, excluding non recurring items	$	86,901
Pro Forma Weighted Average Shares		195,111
Pro Forma Cash Earnings per diluted share	$	0.11
Merger and Acquisition, and Integration Costs per share		0.26
Performance Based Stock Option Costs per share		0.08
Pro Forma Cash Earnings per diluted share, excluding non recurring items	$	0.45
Pro Forma Free Cash Flow	$	26,588
Merger and Acquisition, and Integration Costs, net of tax		50,609
Performance Based Stock Option Costs, net of tax		14,888
Pro Forma Free Cash Flow, excluding non recurring items	$	92,085

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations
for the Quarter Ended March 31, 2006
(In thousands, except per share data)

																	Tax Adjusted
																	Purchase Price		Cash
	Certegy-Jan			FIS			Pro Forma Adjustments			Note			Pro Forma				Amortization		Earnings
Total revenue	$	92,915		$	900,936								$	993,851
Total cost of revenue		73,218			622,337			6,856			(1	)		702,411
Gross profit (loss)		19,697			278,599			(6,856	)					291,440
General and administrative		7,645			143,745			(522	)		(2	)		150,868
Research and development costs		—			28,060									28,060
Merger and Acquisition costs		79,767			1,984									81,751
Income (loss) from operations		(67,715	)		104,810			(6,334	)					30,761
Interest income (expense) and other		(1,204	)		(43,487	)		—						(44,691	)
Income from continuing operations before tax and minority interest		(68,919	)		61,323			(6,334	)					(13,930	)
Provision for income tax		(26,396	)		23,487			(2,626	)		(3	)		(5,535	)	��
Income from continuing operations		(42,523	)		37,836			(3,708	)					(8,395	)
Equity in earnings (loss) of unconsolidated entities, net		—			1,833			—						1,833
Minority interests in earnings, net of tax		—			(311	)		—						(311	)
Net income	$	(42,523	)	$	39,358		$	(3,708	)				$	(6,873	)		$	28,277	$	21,404
Net income per share-basic	$	(0.68	)	$	0.23								$	(0.04	)				$	0.11
Pro forma Weighted average shares-basic		62,326			169,989									191,809						191,809
Net income per share-diluted	$	(0.67	)	$	0.23								$	(0.04	)				$	0.11
Pro forma Weighted average shares-diluted		63,796			172,987									195,111						195,111
Pro Forma Net Earnings													$	(6,873	)
Merger and Acquisition Costs, net of tax														50,609
Performance Based Stock Option Costs, net of tax														14,888
Pro Forma Net Earnings, excluding non recurring items													$	58,624

Appendix B
Notes to Unaudited Pro Forma Combined Statements of Continuing Operations
for the quarter ended March 31, 2006

These combined statements of continuing operations include the historical statements of continuing operations of Certegy and FIS as though the merger had occurred on January 1, 2006, adjusted for items related to the transaction as described below:

(1)	Reflects the increase in amortization expense as a result of allocating an assumed portion of the merger consideration to intangible assets of Certegy, namely customer relationship intangibles and acquired software, and amortizing such intangibles over their estimated useful lives as of the assumed acquisition date, offset by the amortization expense for such intangibles actually recorded by Certegy during the respective periods. Customer relationships are being amortized over 10 years on an accelerated method. Acquired computer software is being amortized over its estimated useful life of up to 10 years on an accelerated method. The acquired trademarks are considered to have indefinite useful lives and, therefore, are not reflected in these adjustments.
(2)	Under the merger agreement, all Certegy stock options and restricted stock and restricted stock units vested upon the closing of the merger. Accordingly, this adjustment reflects the elimination of historical stock compensation expense relating to the vesting of Certegy options in January 2006 (prior to merger), because such expense was reflected at the time of closing of the merger offset by option costs relating to options granted by FIS to certain employees of Certegy who remained with the merged entity,
(3)	Reflects the tax benefit relating to the pro forma adjustments for the quarter ended March 31, 2006.

2007 - Quarter 1	Historical
	Transaction		Lender
	Processing		Processing		Corporate and
	Services		Services		Other			Total
Processing and services revenue		680,545		440,389		3,132			1,124,066
Cost of revenues		530,051		283,265		—			813,316
Gross profit		150,494		157,124		3,132			310,750
Selling, general and admin costs		43,039		46,956		29,488			119,483
Research development costs		17,518		9,591		—			27,109
Operating income		89,937		100,577		(26,356	)		164,158
Depreciation and amortization		70,768		33,756		6,088			110,612
EBITDA		160,705		134,333		(20,268	)		274,770
EBITDA		160,705		134,333		(20,268	)		274,770
Merger and Acquisition, and Integration costs		—		4,277		—			4,277
EBITDA, excluding non-recurring items		160,705		138,610		(20,268	)		279,047

2006 - Quarter 1	Pro Forma									Historical
	Transaction		Lender							Transaction		Lender
	Processing		Processing		Corporate and					Processing		Processing		Corporate and
	Services		Services		Other			Total		Services		Services		Other			Total
Processing and services revenue		592,511		400,500		840			993,851		501,548		400,500		(1,112	)		900,936
Cost of revenues		467,890		234,521		—			702,411		387,816		234,521		—			622,337
Gross profit		124,621		165,979		840			291,440		113,732		165,979		(1,112	)		278,599
Selling, general and admin costs		43,926		59,063		129,630			232,619		39,516		59,063		47,150			145,729
Research development costs		19,077		8,983		—			28,060		19,077		8,983		—			28,060
Operating income		61,618		97,933		(128,790	)		30,761		55,139		97,933		(48,262	)		104,810
Depreciation and amortization		70,634		36,120		1,171			107,925		59,594		36,120		1,081			96,795
EBITDA		132,252		134,053		(127,619	)		138,686		114,733		134,053		(47,181	)		201,605
ProForma EBITDA		132,252		134,053		(127,619	)		138,686
Merger and Acquisition costs		753		170		80,828			81,751
Acceleration of performance-based shares		—		—		24,130			24,130
ProForma EBITDA, excluding non-recurring items		133,005		134,223		(22,661	)		244,567