EXHIBIT 99.1(b)1
NORMALIZED
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
NATIONAL DATA CORPORATION AND SUBSIDIARIES
(In thousands, except per share data)
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Three Months Ended August 31,
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2001 2000
GAAP Normalized
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Revenues - Information Management $34,513 $31,298
Revenues - Network Services and Systems 53,843 48,947
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Revenues 88,356 80,245
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Operating expenses:
Cost of service 41,835 38,462
Sales, general and administrative 20,986 19,926
Depreciation and amortization 6,581 7,989
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69,402 66,377
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Operating income 18,954 13,868
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Other income (expense):
Interest and other income 351 17
Interest and other expense (2,320) (1,959)
Minority interest in earnings 326 -
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(1,643) (1,942)
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Income before income taxes 17,311 11,926
Provision for income taxes 6,232 4,592
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Net income $11,079 $ 7,334
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Basic earnings per share $ 0.33 $ 0.22
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Shares 33,937 32,778
Diluted earnings per share: $ 0.31 $ 0.22
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Shares 39,670 33,441
Normalized results for the three months ended August 31, 2000 exclude revenues
and operating expenses related to divested businesses of $5.6 million and $5.3
million, respectively, and discontinued operations.