Fidelity National Information Services (FIS) 8-K Fidelity National Information Services, Inc. Reports Third Quarter 2007 Results

EXHIBIT 99.1

FIDELITY NATIONAL INFORMATION SERVICES, INC. REPORTS
THIRD QUARTER 2007 RESULTS

LENDER PROCESSING REVENUES INCREASE 8.5%

     Jacksonville, Fla. — October 24, 2007— Fidelity National Information Services, Inc. (NYSE:FIS), a leading global provider of technology services to financial institutions, today announced financial results for the third quarter of 2007. Consolidated revenue increased to $1.2 billion, net earnings totaled $245.3 million and net earnings per diluted share totaled $1.25. These results include after-tax gains of $159.4 million ($0.81 per diluted share) and after-tax restructuring and other charges of $12.9 million ($0.07 per diluted share).

     FIS reported revenue growth of 10.4%, adjusted EBITDA growth of 14.4% and adjusted cash earnings per diluted share of $0.63. These results include a partial month of eFunds operations, which the Company acquired on September 12, 2007. “FIS delivered another quarter of solid operating performance in a challenging market,” stated FIS Executive Chairman William P. Foley, II.

     “The eFunds integration is off to a good start, and we remain confident that the additional scale and product capabilities will generate meaningful growth opportunities,” added FIS President and Chief Executive Officer Lee A. Kennedy. “We are also confident that we will achieve our targeted annualized run rate cost savings of $65 million over a two-year period. Based on our preliminary assessment, we expect eFunds to contribute approximately $0.05 to $0.10 to diluted cash earnings per share in 2008.”

     FIS’ operating results are presented on a U.S. generally accepted accounting principles (“GAAP”) basis and on an adjusted pro forma basis, which management believes provides more meaningful comparisons between the periods presented. The adjusted pro forma results exclude certain merger and acquisition and integration expenses, certain stock compensation charges, restructuring and other charges, and gains on the sale of Covansys Corporation common stock, Property Insight and other assets.

     The Company completed the sale of Property Insight on August 31, 2007. FIS’ earnings include discontinued operations of $0.01 per diluted share in the third quarter of 2007 and $0.02 per diluted share in the third quarter of 2006, as previously disclosed. Results from operations, adjusted for the gains and restructuring items described above, and other adjustments for third quarter and full year 2006, as described in Appendix A, are presented in the following table.

	3rd Quarter	3rd Quarter	%
(As Adjusted)	2007	2006	Chg.
Total Revenue	$1,168.1 million	$1,058.2 million	10.4%
EBITDA	$319.1 million	$279.0 million	14.4%
Net Earnings	$98.7 million	$82.2 million	20.1%
Net Earnings Per Diluted Share	$0.50	$0.42	19.0%
Cash Earnings	$124.3 million	$110.9 million	12.1%
Cash Earnings Per Diluted Share	$0.63	$0.57	10.5%
Diluted Shares Outstanding	196.6 million	193.6 million

     Revenue by segment is provided in the following table. Certain prior year numbers have been adjusted to reflect subsequent reclassifications between business units.

Segment Revenues	3rd Quarter			3rd Quarter			%
(amounts in millions)	2007			2006			Chg.
Transaction Processing Services:
Integrated Financial Solutions	$	296.1		$	276.7			7.0	%
Enterprise Solutions		255.5			257.6			(0.8	%)
International		142.1			118.8			19.5	%
Other		(0.8	)		(2.7	)		70.7	%
Subtotal		692.9			650.4			6.5	%
eFunds		26.6			—		nm
Subtotal	$	719.5		$	650.4			10.6	%
Lender Processing Services:
Mortgage Processing	$	92.4		$	93.6			(1.3	%)
Information Services		353.2			304.3			16.1	%
Other		(1.4	)		11.5			(112.7	%)
	$	444.2		$	409.4			8.5	%
Corporate	$	4.4			(1.6	)	nm
Total FIS	$	1,168.1		$	1,058.2			10.4	%

     Transaction Processing Services’ adjusted EBITDA, which includes a partial month of eFunds, increased 18.8% over the prior-year quarter to $186.7 million. The adjusted EBITDA margin was 25.9%, which is a 170 basis point increase compared to prior year.

     Lender Processing Services’ adjusted EBITDA was $150.8 million, or 6.2% above the prior year quarter. The adjusted EBITDA margin was 33.9%, compared to 32.4% in the second quarter of 2007, and 34.7% in the third quarter of 2006. The decline from the prior year quarter is the result of strong growth in lower margin appraisal volumes and reduced volumes in origination and tax services.

     Corporate EBITDA, as adjusted, for the third quarter of 2007 totaled $18.3 million. The $2.0 million decrease compared to the prior year quarter is attributable to lower compensation and benefit expense. The effective tax rate was 37.0%.

Full Year 2007 Outlook

     Management expects full year 2007 adjusted net earnings of approximately $1.90 per diluted share, which has been adjusted to reflect a $0.03 per share impact from the sale of Property Insight and a $0.04 per share impact for purchase amortization associated with the acquisition of eFunds. The Company anticipates cash earnings to be at the low end of its previously announced guidance of $2.44 to $2.50 per diluted share, which reflects the impact of the sale of Property Insight. eFunds is expected to be neutral to 2007 cash earnings per diluted share.

Use of Non-GAAP Financial Information

     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 pro forma results and GAAP and non-GAAP results, and schedules showing historical detail are provided in the attachments to this press release, which is also available on the Company’s websitewww.fidelityinfoservices.com.

Conference Call

     FIS will host a call with investors and analysts to discuss third quarter results on Thursday, October 25, 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 athttp://www.fidelityinfoservices.com. Those wishing to participate via the telephone may do so by calling 800-762-6568 (USA) or 480-248-5088 (International). The webcast

replay will be available on FIS’ Investor Relations website. The telephone replay will be available through November 10, 2007, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 890767.

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 10,000 financial institutions in more than 80 countries worldwide. For more information on Fidelity National Information Services, please visitwww.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; the risks and uncertainties related to our recently announced data theft, which continues to be investigated, and which includes the potential for fines, increased operating costs and loss of business; the possibility that our acquisition of EFD/eFunds, may not be accretive to our earnings due to undisclosed liabilities, management or integration issues, loss of customers, the inability to achieve targeted cost savings, or other factors; 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.

FIS-e

SOURCE: Fidelity National Information Services, Inc.
CONTACT: Mary Waggoner, Senior Vice President, Investor Relations, 904-854-3282,mary.waggoner@fnis.com
Michelle Kersch, Senior Vice President, Corporate Communications, 904-854-5043,michelle.kersch@fnis.com

###

FIDELITY NATIONAL INFORMATION SERVICES, INC.
AND SUBSIDIARIES AND AFFILIATES
UNAUDITED CONSOLIDATED RESULTS FOR THE THREE AND NINE MONTHS ENDING SEPTEMBER 30, 2007 AND 2006
(In thousands)

	Three months ended September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Processing and services revenues	$	1,168,067		$	1,058,197		$	3,427,602		$	2,933,641
Cost of revenues		838,912			758,813			2,470,143			2,072,464
Selling, general, and administrative expenses		123,802			111,014			363,922			379,278
Research and development costs		26,456			25,855			77,153			77,561
Operating income		178,897			162,515			516,384			404,338
Other income (expense) Interest income		1,073			444			2,255			3,559
Gain on sale of Covansys stock		182,444			—			274,488			—
Other income (expense)		3,332			(593	)		4,812			(1,682	)
Interest expense		(44,370	)		(49,717	)		(159,454	)		(142,018	)
Total other income (expense)		142,479			(49,866	)		122,101			(140,141	)
Earnings before income taxes, equity earnings and minority interest		321,376			112,649			638,485			264,197
Provision for income taxes		118,909			40,207			236,240			98,266
Equity in loss (earnings) of unconsolidated entities		406			(1,686	)		(1,266	)		(3,778	)
Minority interest expense (income)		799			(34	)		1,463			(40	)
Net earnings from continuing operations		201,262			74,162			402,048			169,749
Net earnings from discontinued operations		1,918			4,418			8,639			14,218
Gain on disposition of Property Insight		42,124			—			42,124			—
Net Earnings	$	245,304		$	78,580		$	452,811		$	183,967
Net earnings per share-basic from continuing operations	$	1.04		$	0.39		$	2.09		$	0.92
Net earnings per share-basic from discontinued operations	$	0.23		$	0.02		$	0.26		$	0.08
Net earnings per share-basic	$	1.27		$	0.41		$	2.35		$	1.00
Weighted average shares outstanding-basic		193,172			190,680			192,609			184,373
Net earnings per share-diluted from continuing operations	$	1.02		$	0.39		$	2.04		$	0.90
Net earnings per share-diluted from discontinued operations	$	0.23		$	0.02		$	0.26		$	0.08
Net earnings per share-diluted	$	1.25		$	0.41		$	2.30		$	0.98
Weighted average shares outstanding-diluted		196,649			193,626			196,480			187,405

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

EBITDA Detail

2007 Q3	FIS
Net Earnings from Continuing Operations	$	201,262
+ Interest Expense		44,370
+ Minority Interest		799
+ Income Taxes		118,909
+ Depreciation		28,379
+ Purchase Price Amortization		40,600
+ Other Amortization		65,316
- Interest Income		(1,073	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		406
- Other (Income) Expense		(3,332	)
- Covansys Gain		(182,444	)
EBITDA	$	313,192

EBITDA Margin

2007 Q3	FIS
EBITDA	$	313,192
Revenue from Continuing Operations	$	1,168,067
EBITDA Margin		26.8	%

EBIT Detail

2007 Q3	FIS
Net Earnings from Continuing Operations	$	201,262
+ Interest Expense		44,370
+ Minority Interest		799
+ Income Taxes		118,909
- Interest Income		(1,073	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		406
- Other (Income) Expense		(3,332	)
- Covansys Gain		(182,444	)
EBIT	$	178,897

EBIT Margin

2007 Q3	FIS
EBIT	$	178,897
Revenue from Continuing Operations	$	1,168,067
EBIT Margin		15.3	%

Cash Earnings

2007 Q3	FIS
Net Earnings	$	245,304
+ Tax Adjusted Purchase Price Amortization		25,578
Cash Earnings	$	270,882
Diluted Cash EPS	$	1.38
Diluted Shares Outstanding		196,649

EBITDA Detail

2006 Q3	FIS
Net Earnings from Continuing Operations	$	74,162
+ Interest Expense		49,717
+ Minority Interest		(34	)
+ Income Taxes		40,207
+ Depreciation		22,954
+ Purchase Price Amortization		45,545
+ Other Amortization		42,321
- Interest Income		(444	)
- Equity in (Earnings) Losses of Unconsolidated Entities, net of tax		(1,686	)
- Other (Income) Expense		593
EBITDA	$	273,335

EBITDA Margin

2006 Q3	FIS
EBITDA	$	273,335
Revenue from Continuing Operations	$	1,058,197
EBITDA Margin		25.8	%

EBIT Detail

2006 Q3	FIS
Net Earnings from Continuing Operations	$	74,162
+ Interest Expense		49,717
+ Minority Interest		(34	)
+ Income Taxes		40,207
- Interest Income		(444	)
- Equity in (Earnings) Loss of Unconsolidated Entities, net of tax		(1,686	)
- Other (Income) Expense		593
EBIT	$	162,515

EBIT Margin

2006 Q3	FIS
EBIT	$	162,515
Revenue from Continuing Operations	$	1,058,197
EBIT Margin		15.4	%

Cash Earnings

2006 Q3	FIS
Net Earnings	$	78,580
+ Tax Adjusted Purchase Price Amortization		28,749
Cash Earnings	$	107,329
Diluted Cash EPS	$	0.55
Diluted Shares Outstanding		193,626

Free Cash Flow

2007 Q3	FIS
Net Earnings	$	245,304
+ Depreciation/Amort		134,440
- Capital Expenditures		(90,661	)
Free Cash Flow	$	289,083

2007 Q3
Stock Compensation	$	9,890

2007 Q3 Financial Measures Excluding Certain Items
EBITDA	$	313,192
Merger and Acquisition, Restructuring and Integration Costs		5,924
EBITDA, excluding non recurring items	$	319,116
Net Earnings	$	245,304
Merger and Acquisition, Restructuring and Integration Costs, net of tax		10,505
Covansys Gain, net of tax		(114,939	)
Gain on Property Insight, net of tax		(42,124	)
Net Earnings , excluding non recurring items	$	98,746
Diluted Shares Outstanding		196,649
Net Earnings per diluted share	$	1.25
Merger and Acquisition, Restructuring and Integration Costs, net of tax		0.05
Covansys Gain, net of tax		(0.58	)
Gain on Property Insight, net of tax		(0.21	)
Net Earnings per diluted share, excluding non recurring items	$	0.50
Cash Earnings	$	270,882
Merger and Acquisition, Restructuring and Integration Costs, net of tax		10,505
Covansys Gain, net of tax		(114,939	)
Gain on Property Insight, net of tax		(42,124	)
Cash Earnings, excluding non recurring items	$	124,324
Cash Earnings per diluted share	$	1.38
Merger and Acquisition, Restructuring and Integration Costs, net of tax		0.05
Covansys Gain, net of tax		(0.58	)
Gain on Property Insight, net of tax		(0.21	)
Cash Earnings per diluted share, excluding non recurring items	$	0.63
Free Cash Flow	$	289,083
Merger and Acquisition, Restructuring and Integration Costs, net of tax		(3,026	)
Covansys Gain, net of tax		(114,939	)
Gain on Property Insight, net of tax		(42,124	)
Free Cash Flow, excluding non recurring items	$	128,994

Free Cash Flow

2006 Q3	FIS
Net Earnings	$	78,580
+ Depreciation/Amort		111,135
- Capital Expenditures		(67,114	)
Free Cash Flow	$	122,601

2006 Q3
Stock Compensation	$	4,434

2006 Q3 Financial Measures Excluding Non Recurring Items
EBITDA	$	273,335
Merger and Acquisition, and Integration Costs		5,621
EBITDA, excluding non recurring items	$	278,956
Net Earnings	$	78,580
Merger and Acquisition, and Integration Costs, net of tax		3,575
Net Earnings, excluding non recurring items	$	82,155
Diluted Shares Outstanding		193,626
Net Earnings per diluted share	$	0.41
Merger and Acquisition, and Integration Costs per share		0.01
Net Earnings per diluted share, excluding non recurring items	$	0.42
Cash Earnings	$	107,329
Merger and Acquisition, and Integration Costs, net of tax		3,575
Cash Earnings, excluding non recurring items	$	110,904
Cash Earnings per diluted share	$	0.55
Merger and Acquisition, and Integration Costs per share		0.02
Cash Earnings per diluted share, excluding non recurring items	$	0.57
Free Cash Flow	$	122,601
Merger and Acquisition, and Integration Costs, net of tax		3,575
Free Cash Flow, excluding non recurring items	$	126,176

Appendix B

Unaudited Pro Forma and Historical Segment Information

For the Three and Nine Months Ended September 30, 2007 and 2006

(In thousands Except Per Share Data)

2007 — Quarter 3

	Historical
	Transaction		Lender		Corporate
	Processing Services		Processing Services		and Other			Total
Processing and services revenue		719,541		444,183		4,343			1,168,067
Cost of revenues		569,436		269,476		—			838,912
Gross profit		150,105		174,707		4,343			329,155
Selling, general and admin costs		46,638		48,168		28,996			123,802
Research development costs		17,579		8,877		—			26,456
Operating income		85,888		117,662		(24,653	)		178,897
Depreciation and amortization		96,150		32,427		5,718			134,295
EBITDA		182,038		150,089		(18,935	)		313,192
EBITDA		182,038		150,089		(18,935	)		313,192
Merger and Acquisition, and Integration costs		4,614		707		603			5,924
EBITDA, excluding non-recurring items		186,652		150,796		(18,332	)		319,116

2006- Quarter 3

	Historical
	Transaction		Lender		Corporate
	Processing Services		Processing Services		and Other			Total
Processing and services revenue		650,406		409,431		(1,640	)		1,058,197
Cost of revenues		514,390		244,423		—			758,813
Gross profit		136,016		165,008		(1,640	)		299,384
Selling, general and admin costs		39,736		49,622		21,656			111,014
Research development costs		17,838		8,017		—			25,855
Operating income		78,442		107,369		(23,296	)		162,515
Depreciation and amortization		75,158		33,343		2,319			110,820
EBITDA		153,600		140,712		(20,977	)		273,335
EBITDA		153,600		140,712		(20,977	)		273,335
Merger and Acquisition costs		3,568		1,337		716			5,621
EBITDA, excluding selected items		157,168		142,049		(20,261	)		278,956