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United States
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported):
July 25, 2006

Fidelity National Information Services, Inc.

(Exact name of Registrant as Specified in its Charter)

1-16427
(Commission File Number)


Georgia		58-2606325
(State or Other Jurisdiction of Incorporation or Organization)		(IRS Employer Identification Number)

601 Riverside Avenue
Jacksonville, Florida 32204

(Addresses of Principal Executive Offices)

(904) 854-8100
(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS


	Item 2.02. Results of Operations and Financial Condition
	Item 9.01. Financial Statements and Exhibits
SIGNATURE
EXHIBIT INDEX
EXHIBIT 99.1

Item 2.02. Results of Operations and Financial Condition

On July 25, 2006, Fidelity National Information Services, Inc. issued an earnings release announcing its financial results for the Second Quarter of 2006. The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

A copy of the earnings release is attached as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits


Exhibit		Description
99.1		Press release announcing Fidelity National Information Services, Inc. Reports Second Quarter 2006 Earnings.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	Fidelity National Information Services, Inc.
Date: July 26, 2006	By:	/s/ Jeffrey S. Carbiener
		Name: Jeffrey S. Carbiener Title: Executive Vice President and Chief Financial Officer

EXHIBIT INDEX


Exhibit		Description
99.1		Press release announcing Fidelity National Information Services, Inc. Reports Second Quarter 2006 Earnings.

exv99w1

Exhibit 99.1


		PRESS RELEASE

Fidelity National Information Services, Inc. Reports
Second Quarter 2006 Financial Results
Increases Full Year Guidance

Jacksonville, Fla. — July 25, 2006 — Fidelity National Information Services, Inc. (NYSE:FIS), a leading global provider of technology services to financial institutions, today announced financial results for the second quarter of 2006. Consolidated revenue increased to $1.02 billion, Net earnings increased to $66.0 million and Net earnings per diluted share was $0.34. These results reflect the combination between FIS and Certegy Inc. as of February 1, 2006, the effective date of the merger, in accordance with Generally Accepted Accounting Principles (“GAAP”).

“FIS generated another quarter of solid operating performance. Year-to-date pro forma revenue growth of 6.2% and EBITDA growth of 10.4% are in line with our original full year expectations,” stated FIS Chairman William P. Foley, II. “With strong sales growth in the first half of the year and the recent launch of our new item processing and BPO operation in Brazil, we are increasing our full year outlook to reflect pro forma revenue growth of 5% to 7% percent, EBITDA growth of 10% to 12% and cash earnings per diluted share of $2.06 to $2.12.”

FIS’ expected cash earnings per diluted share now includes costs associated with the newly established credit card processing joint venture in Brazil, which the company announced in March 2006. These expenses were previously excluded from the Company’s guidance.

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’ pro forma results reflect a January 1, 2005, effective date for the merger between FIS and Certegy, the March 2005 recapitalization and the sale of minority interests by FIS. Additionally, the adjusted pro forma results exclude merger and acquisition and integration expenses. 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.


	2nd Quarter		2nd Quarter
GAAP	2006		2005
Total Revenue	$1,021.9 million		$708.7 million
Net Earnings	$66.0 million		$48.6 million
Net Earnings Per Diluted Share	$	0.34	$	0.38


	2nd Quarter		2nd Quarter
Pro Forma (see Appendix)	2006		2005		% Chg
Total Revenue	$1,021.9 million		$984.7 million			3.8	%
EBITDA	$270.1 million		$251.8 million			7.3	%
Pro Forma Net Earnings	$70.3 million		$63.3 million			11.1	%
Pro Forma Net Earnings Per Diluted Share	$	0.37	$	0.33		12.1	%
Cash Earnings	$98.9 million		$95.5 million			3.6	%
Cash Earnings Per Diluted Share	$	0.51	$	0.50		2.0	%

The prior year second quarter included contract termination revenue of approximately $22.0 million associated with the acquisition of Riggs Bank by PNC. Excluding this revenue from prior year results, pro forma consolidated revenue in the second quarter of 2006 increased 6.1% and adjusted pro forma EBITDA increased 16.9%.

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 intangible amortization, net of income tax (“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.

Pro Forma Segment Information

FIS’ Transaction Processing Services generated revenue of $612.1 million, or 2.6% over the prior-year period, driven by 11.2% growth in International and 6.5% growth in Integrated Financial Solutions. EBITDA increased 0.7% to $147.5 million. Excluding the previously mentioned contract termination revenue from the prior year quarter, Transaction Processing Services revenue increased 6.4% and EBITDA increased 17.3%.

Lender Processing Services revenue increased 5.1% to $408.1 million, driven by a 6.2% increase in the number of mortgage loans processed, strong results within the Default Solutions product line and deeper penetration within the existing customer base. EBITDA increased 1.4% to $141.4 million.

Additional segment and pro forma information is provided in the following table:


	2^nd			2^nd
	Quarter			Quarter
Segment Revenues	2006			2005			% Chg.
Transaction Processing Services:
Integrated Financial Solutions	$	275.9		$	259.0			6.5	%
Enterprise Solutions		239.8			257.9			-7.0	%
International		99.3			89.3			11.2	%
Other		(2.9	)		(9.5	)		-69.5	%
	$	612.1		$	596.7			2.6	%
Lender Processing Services:
Mortgage Processing	$	93.1		$	89.4			4.2	%
Information Outsourcing		316.5			300.2			5.4	%
Other		(1.5	)		(1.2	)		25.0	%
	$	408.1		$	388.4			5.1	%

Corporate	$	1.7		$	(0.3	)		—

Total FIS	$	1,021.9		$	984.7			3.8	%

Pro forma corporate expense for the second quarter of 2006 totaled $24.6 million. The $11.5 million, or 31.9%, decline from the prior-year quarter was primarily attributable to the consolidation of duplicate administrative functions. Pro forma interest expense for the quarter increased $9.4 million to $49.0 million, due primarily to higher interest rates.

Outlook

Management increased its pro forma earnings outlook for full year 2006 as shown below. This guidance excludes pre-tax merger and acquisition and integration costs and pre-tax expense associated with the accelerated vesting of performance based options in the first quarter of 2006. The guidance now includes expenses associated with the newly established credit card processing joint venture in Brazil, which was announced in March 2006. These expenses were previously excluded from the Company’s guidance.

	•		Pro forma revenue growth of 5% to 7%.

	•		Pro forma EBITDA growth of 10% to 12%.

	•		Pro forma cash earnings per share of $2.06 to $2.12, which includes after-tax purchase amortization of approximately $111 million, or $0.57 per diluted share.

	•		Pro forma earnings per diluted share of $1.49 to $1.55.

	•		Capital expenditures of approximately $300 million, including anticipated investments in the Brazilian credit card processing joint venture and the newly launched item processing and BPO operation.

	•		Free cash flow of approximately $440 million to $490 million, which includes the incremental capital investments in Brazil.

FIS will host a call with investors and analysts to discuss first quarter results on Wednesday, July 26, 2006, beginning at 8:30 a.m. Eastern daylight 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 800-230-1074 (USA) or 612-288-0318 (International). The webcast replay will be available on FIS’ Investor Relations website. The telephone replay will be available through August 2, 2006, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 835466.

About Fidelity National Information Services, Inc.

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 ten. Nearly 50 percent of all U.S. residential mortgages are processed using FIS software. Headquartered in Jacksonville, Florida, FIS maintains a strong global presence, serving over 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.

FIS is a majority-owned subsidiary of Fidelity National Financial Inc. (NYSE:FNF), number 248 on the Fortune 500 and a provider of outsourced products and services to a variety of industries. More information about FNF can be found at www.fnf.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 risk that the recent merger between Fidelity National Information Services, Inc. and Certegy Inc. may fail to achieve beneficial synergies or that it may take longer than expected to do so; 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 AND COMBINED RESULTS FOR THE THREE AND SIX MONTHS ENDING JUNE 30, 2006 AND 2005
(In thousands)

Three months ended June 30,

Six months ended June 30,

2006

2005

2006

2005

Processing and services revenues

1,021,946

708,713

1,922,882

1,360,293

Cost of revenues

719,718

453,504

1,342,055

883,579

Selling, general, and administrative expenses

125,866

109,318

271,595

219,874

Research and development costs

23,646

28,303

51,706

52,239

Operating income

152,716

117,588

257,526

204,601

Other income (expense)

Interest income

1,533

274

3,424

3,036

Realized gains and losses

866

(1,244

)

(3,212

)

Interest expense

(49,033

)

(36,388

)

(92,301

)

(49,809

)

Total other income (expense)

(46,634

)

(36,029

)

(90,121

)

(49,985

)

Earnings before income taxes, equity earnings and minority interest

106,082

81,559

167,405

154,616

Income tax expense

40,629

31,380

64,116

59,434

Equity in earnings of unconsolidated entities

(259

)

(1,006

)

(2,092

)

(2,244

)

Minority interest

(317

)

2,609

)

4,254

Net earnings

66,029

48,576

105,387

93,172

Net earnings per share-basic

0.34

0.38

0.58

0.73

Weighted average shares outstanding-basic

192,224

127,920

181,168

127,920

Net earnings per share-diluted

0.34

0.38

0.57

0.73

Weighted average shares outstanding-diluted

195,374

127,920

184,242

127,920

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


NOTE:		The Adjustments Column represents pro forma adjustments relating to the merger transaction between CEY and FIS, the recapitalization transaction at FIS in March 2005, and the purchase of the remaining minority interest in Kordoba in September 2005 to reflect such transactions as if they occurred January 1, 2005

EBITDA Detail


2006 Q2	FIS
Net Earnings	$	66,029
+ Interest Expense		49,033
+ Minority Interest		(317	)
+ Income Taxes		40,629
+ Depreciation/Amort		110,374
- Interest Income		(1,533	)
- Equity in (Earnings) Loss of Unconsolidated Entites, net of tax		(259	)
- Other (Income) Expense		(866	)
EBITDA	$	263,090

2005 Q2

FIS

CEY

ADJ

Pro Forma

Net Earnings

48,576

25,391

(10,674

)

63,293

+ Interest Expense

36,388

3,250

—

39,638

+ Minority Interest

2,609

—

(988

)

1,621

+ Income Taxes

31,380

15,312

(6,907

)

39,785

+ Depreciation/Amort

75,363

12,884

21,133

109,380

- Interest Income

(274

)

—

(274

)

- Equity in (Earnings) Loss of Non-Consolidated Entites, net of tax

(1,006

)

—

(1,006

)

- Other (Income) Expense

(85

)

(576

)

—

(661

)

EBITDA

192,951

56,261

2,564

251,776

EBITDA Margin


2006 Q2	FIS
EBITDA	$	263,090
Revenue	$	1,021,946
EBITDA Margin		25.7	%

2005 Q2

FIS

CEY

ADJ

Pro Forma

EBITDA

192,951

56,261

2,564

251,776

Revenue

708,713

276,023

—

984,736

EBITDA Margin

27.2

20.4

25.6

EBIT Detail


2006 Q2	FIS
Net Earnings	$	66,029
+ Interest Expense		49,033
+ Minority Interest		(317	)
+ Income Taxes		40,629
- Interest Income		(1,533	)
- Equity in (Earnings) Loss of Unconsolidated Entites, net of tax		(259	)
- Other (Income) Expense		(866	)
EBIT	$	152,716

2005 Q2

FIS

CEY

ADJ

Pro Forma

Net Earnings

48,576

25,391

(10,674

)

63,293

+ Interest Expense

36,388

3,250

—

39,638

+ Minority Interest

2,609

—

(988

)

1,621

+ Income Taxes

31,380

15,312

(6,907

)

39,785

- Interest Income

(274

)

—

(274

)

- Equity in (Earnings) Loss of Non-Consolidated Entites, net of tax

(1,006

)

—

(1,006

)

- Other (Income) Expense

(85

)

(576

)

—

(661

)

EBIT

117,588

43,377

(18,569

)

142,396

EBIT Margin


2006 Q2	FIS
EBIT	$	152,716
Revenue	$	1,021,946
EBIT Margin		14.9	%

2005 Q2

FIS

CEY

ADJ

Pro Forma

EBIT

117,588

43,377

(18,569

)

142,396

Revenue

708,713

276,023

—

984,736

EBIT Margin

16.6

15.7

14.5

Adjusted Diluted EPS


2006 Q2	FIS
Net Earnings	$	66,029
Adjusted EPS	$	0.34
Diluted Shares Outstanding		195,374

2005 Q2

FIS

CEY

ADJ

Pro Forma

Net Earnings

48,576

25,391

(10,674

)

63,293

Adjusted EPS

0.38

0.33

Diluted Shares Outstanding

127,920

190,949

Cash Earnings


2006 Q2	FIS
Net Earnings	$	66,029
+ Tax Adjusted Purchase Price Amortization		28,597
Cash Earnings	$	94,626
Diluted Cash EPS	$	0.48
Diluted Shares Outstanding		195,374

2005 Q2

FIS

CEY

ADJ

Pro Forma

Net Earnings

48,576

25,391

(10,674

)

63,293

+ Tax Adjusted Purchase Price Amortization

20,946

680

10,606

32,232

Cash Earnings

69,522

26,071

(68

)

95,525

Diluted Cash EPS

0.54

0.50

Diluted Shares Outstanding

127,920

—

190,949

Free Cash Flow


2006 Q2	FIS
Net Earnings	$	66,029
+ Depreciation/Amort		110,374
- Capital Expenditures		(80,156	)
Free Cash Flow	$	96,247

2005 Q2

FIS

CEY

ADJ

Pro Forma

Net Earnings

48,576

25,391

(10,674

)

63,293

+ Depreciation/Amort

75,363

12,884

21,133

109,380

- Capital Expenditures

(63,883

)

(16,082

)

—

(79,965

)

Free Cash Flow

60,056

22,193

10,459

92,708


2006 Q2
Stock Compensation	$	4,829

2005 Q2

Stock Compensation

7,125

3,050

(3,050

)

7,125

Continued on the following page

Financial Measures Excluding Selected Items


EBITDA	$	263,090
M&A and Integration costs		6,978

EBITDA, excluding selected items	$	270,068


Net Earnings	$	66,029
M&A and Integration Costs, net of tax		4,305

Net Earnings, excluding selected items	$	70,334


Net Earnings per diluted share	$	0.34
M&A and Integration costs per share		0.03

Net Earnings per diluted share, excluding selected items	$	0.37


Net Earnings, excluding selected items	$	70,334
+ Tax Adjusted Purchase Price Amortization		28,597

Cash Earnings, excluding selected items	$	98,931


Net Earnings per diluted share, excluding selected items	$	0.37
+ Tax Adjusted Purchase Price Amortization-per share		0.14

Cash Earnings per diluted share, excluding selected items	$	0.51


Net Earnings, excluding selected items	$	70,334
+ Depreciation/Amort	$	110,374
- Capital Expenditures		(80,156	)

Free Cash Flow, excluding selected items	$	100,552

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


NOTE:		The Adjustments Column represents pro forma adjustments relating to the merger transaction between CEY and FIS, the recapitalization transaction at FIS in March 2005, and the purchase of the remaining minority interest in Kordoba in September 2005 to reflect such transactions as if they occurred January 1, 2005

EBITDA Detail

2006 Six Months

FIS

CEY-Jan

ADJ

Pro Forma

Net Earnings

105,387

(42,523

)

(3,708

)

59,156

+ Interest Expense

92,301

1,081

—

93,382

+ Minority Interest

)

—

)

+ Income Taxes

64,116

(26,396

)

(2,626

)

35,094

+ Depreciation/Amort

207,169

4,274

6,856

218,299

- Interest Income

(3,424

)

—

(3,424

)

- Equity in (Earnings) Loss of Unconsolidated Entites, net of tax

(2,092

)

—

(2,092

)

- Other (Income) Expense

1,244

123

1,367

EBITDA

464,695

(63,441

)

522

401,776

2005 Six Months

FIS

CEY

ADJ

Pro Forma

Net Earnings

93,172

46,546

(35,339

)

104,379

+ Interest Expense

49,809

6,555

21,031

77,395

+ Minority Interest

4,254

—

(1,628

)

2,626

+ Income Taxes

59,434

28,069

(21,899

)

65,604

+ Depreciation/Amort

151,103

25,413

42,266

218,782

- Interest Income

(3,036

)

—

(3,036

)

- Equity in (Earnings) Loss of Non-Consolidated Entites, net of tax

(2,244

)

—

(2,244

)

- Other (Income) Expense

3,212

(741

)

—

2,471

EBITDA

355,704

105,842

4,431

465,977

EBITDA Margin

2006 Six Months

FIS

CEY-Jan

ADJ

Pro Forma

EBITDA

464,695

(63,441

)

522

401,776

Revenue

1,922,882

92,915

—

2,015,797

EBITDA Margin

24.2

-68.3

19.9

2005 Six Months

FIS

CEY

ADJ

Pro Forma

EBITDA

355,704

105,842

4,431

465,977

Revenue

1,360,293

538,481

—

1,898,774

EBITDA Margin

26.1

19.7

24.5

EBIT Detail


2006 Six Months	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	105,387		$	(42,523	)	$	(3,708	)	$	59,156
+ Interest Expense		92,301			1,081			—			93,382
+ Minority Interest		(6	)		—			—			(6	)
+ Income Taxes		64,116			(26,396	)		(2,626	)		35,094
- Interest Income		(3,424	)		—			—			(3,424	)
- Equity in (Earnings) Loss of Unconsolidated Entites, net of tax		(2,092	)		—			—			(2,092	)
- Other (Income) Expense		1,244			123			—			1,367
EBIT	$	257,526		$	(67,715	)	$	(6,334	)	$	183,477

2005 Six Months

FIS

CEY

ADJ

Pro Forma

Net Earnings

93,172

46,546

(35,339

)

104,379

+ Interest Expense

49,809

6,555

21,031

77,395

+ Minority Interest

4,254

—

(1,628

)

2,626

+ Income Taxes

59,434

28,069

(21,899

)

65,604

- Interest Income

(3,036

)

—

(3,036

)

- Equity in (Earnings) Loss of Non-Consolidated Entites, net of tax

(2,244

)

—

(2,244

)

- Other (Income) Expense

3,212

(741

)

—

2,471

EBIT

204,601

80,429

(37,835

)

247,195

EBIT Margin

2006 Six Months

FIS

CEY-Jan

ADJ

Pro Forma

EBIT

257,526

(67,715

)

(6,334

)

183,477

Revenue

1,922,882

92,915

—

2,015,797

EBIT Margin

13.4

-72.9

9.1

2005 Six Months

FIS

CEY

ADJ

Pro Forma

EBIT

204,601

80,429

(37,835

)

247,195

Revenue

1,360,293

538,481

—

1,898,774

EBIT Margin

15.0

14.9

13.0

Adjusted Diluted EPS

2006 Six Months

FIS

CEY-Jan

ADJ

Pro Forma

Net Earnings

105,387

(42,523

)

(3,708

)

59,156

Adjusted EPS

0.57

0.30

Diluted Shares Outstanding

184,242

195,244

2005 Six Months

FIS

CEY

ADJ

Pro Forma

Net Earnings

93,172

46,546

(35,339

)

104,379

Adjusted EPS

0.73

0.55

Diluted Shares Outstanding

127,920

190,864

Cash Earnings

2006 Six Months

FIS

CEY-Jan

ADJ

Pro Forma

Net Earnings

105,387

(42,523

)

(3,708

)

59,156

+ Tax Adjusted Purchase Price Amortization

53,117

233

3,524

56,874

Cash Earnings

158,504

(42,290

)

(184

)

116,030

Diluted Cash EPS

0.86

0.59

Diluted Shares Outstanding

184,242

195,244

2005 Six Months

FIS

CEY

ADJ

Pro Forma

Net Earnings

93,172

46,546

(35,339

)

104,379

+ Tax Adjusted Purchase Price Amortization

42,916

1,361

21,213

65,490

Cash Earnings

136,088

47,907

(14,127

)

169,869

Diluted Cash EPS

1.06

0.89

Diluted Shares Outstanding

127,920

—

190,864

Free Cash Flow

2006 Six Months

FIS

CEY-Jan

ADJ

Pro Forma

Net Earnings

105,387

(42,523

)

(3,708

)

59,156

+ Depreciation/Amort

207,169

4,274

6,856

218,299

- Capital Expenditures

(149,420

)

(5,200

)

—

(154,620

)

Free Cash Flow

163,136

(43,449

)

3,148

122,835

2005 Six Months

FIS

CEY

ADJ

Pro Forma

Net Earnings

93,172

46,546

(35,339

)

104,379

+ Depreciation/Amort

151,103

25,413

42,266

218,782

- Capital Expenditures

(105,895

)

(28,119

)

—

(134,014

)

Free Cash Flow

138,380

43,840

6,927

189,147

2006 Six Months

Stock Compensation

32,787

552

(552

)

32,787

2005 Six Months

Stock Compensation

11,501

6,300

(6,300

)

11,501

Continued on the following page

Pro Forma Measures Excluding Selected Items


Pro Forma EBITDA	$	401,776
M&A and Integration costs		88,729
Performance Based Stock Option Costs		24,130

Pro Forma EBITDA, excluding selected items	$	514,635


Pro Forma Net Earnings		59,156
M&A and Integration Costs, net of tax		54,914
Performance Based Stock Option Costs, net of tax		14,888

Pro Forma Net Earnings, excluding selected items	$	128,958


Weighted Average Shares		184,242
Adjustment as if transaction took place 1/1/2005		11,002

Pro Forma Weighted Average Shares		195,244


Pro Forma Net Earnings per diluted share	$	0.30
M&A and Integration costs per share		0.28
Performance Based Stock Option Costs per share		0.08

Pro Forma Net Earnings per diluted share, excluding selected items	$	0.66


Net Earnings, excluding selected items		128,958
+ Tax Adjusted Purchase Price Amortization		56,874

Cash Earnings, excluding selected items		185,832


Net Earnings per diluted share, excluding selected items		0.66
+ Tax Adjusted Purchase Price Amortization-per share		0.29

Cash Earnings per diluted share, excluding selected items	$	0.95


Net Earnings, excluding selected items	$	128,958
+ Depreciation/Amort		218,299
- Capital Expenditures		(154,620	)

Free Cash Flow, excluding selected items	$	192,637

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations
for the Six Months Ended June 30, 2006
(In thousands Except Per Share Data)


																Tax Adjusted
							Pro Forma									Purchase Price		Cash
	Certegy-Jan			FIS			Adjustments			Note			Pro Forma			Amortization		Earnings
Total revenue	$	92,915		$	1,922,882								$	2,015,797
Total cost of revenue		73,218			1,342,055			6,856			(1	)		1,422,129

Gross profit (loss)		19,697			580,827			(6,856	)					593,668
General and administrative		7,645			271,595			(522	)		(2	)		278,718
Research and development costs		—			51,706									51,706
Merger and Acquisition costs		79,767			—									79,767

Income (loss) from operations		(67,715	)		257,526			(6,334	)					183,477
Interest income (expense) and other		(1,204	)		(90,121	)		—						(91,325	)

Income from continuing operations before tax and min. int		(68,919	)		167,405			(6,334	)					92,152
Provision for income tax		(26,396	)		64,116			(2,626	)		(4	)		35,094

Income from continuing operations		(42,523	)		103,289			(3,708	)					57,058
Equity in earnings (loss) of unconsolidated entities, net		—			2,092			—						2,092
Minority interests in earnings, net of tax		—			6			—						6

Net income	$	(42,523	)	$	105,387		$	(3,708	)				$	59,156		$	56,874	$	116,030

Net income per share-basic	$	(0.68	)	$	0.58								$	0.31				$	0.60

Pro forma Weighted average shares-basic		62,326			181,168									192,017					192,017

Net income per share-diluted	$	(0.67	)	$	0.57								$	0.30				$	0.59

Pro forma Weighted average shares-diluted		63,796			184,242									195,244					195,244


Pro Forma Net Earnings													$	59,156
Merger and Acquisition Costs, net of tax														54,914
Performance Based Stock Option Costs, net of tax														14,888

Pro Forma Net Earnings, excluding selected items													$	128,958

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations

for the Quarter Ended March 31, 2005
(In thousands Except Per Share Data)


																														Tax Adjusted
							Pro Forma									Recapitalization					2005 FIS						Pro Forma,			Purchase Price
	Certegy			FIS			Adjustments			Note			Pro Forma			Adjustments					Acquisitions			Note			as adjusted			Amortization		Cash Earnings
Total revenue	$	262,458		$	651,580								$	914,038													$	914,038
Total cost of revenue		190,292			430,075			20,569			(1	)		640,678								564			(6	)		641,242
								(258	)		(2	)

Gross profit (loss)		72,166			221,505			(20,311	)					273,360			—					(564	)					272,796
General and administrative		34,814			110,556			(1,309	)		(2	)		144,061														144,061
Research and development costs		—			23,936									23,936								—						23,936
Merger and Acquisition costs		300			—			(300	)		(3	)		—								—						—

Income (loss) from operations		37,052			87,013			(18,702	)					105,363			—					(564	)					104,799
Interest income (expense) and other		(3,140	)		(13,956	)		—						(17,096	)		(21,031	)	(5	)								(38,127	)

Income from continuing operations before tax and min. int		33,912			73,057			(18,702	)					88,267			(21,031	)				(564	)					66,672
Provision for income tax		12,757			28,054			(6,958	)		(4	)		33,853			(7,824	)				(210	)					25,819

Income from continuing operations		21,155			45,003			(11,744	)					54,414			(13,207	)				(354	)					40,853
Equity in earnings (loss) of unconsolidated entities, net		—			1,238			—						1,238			—					—						1,238
Minority interests in earnings, net of tax		—			(1,645	)		—						(1,645	)							640						(1,005	)

Net income	$	21,155		$	44,596		$	(11,744	)				$	54,007		$	(13,207	)			$	286					$	41,086		$	33,258	$	74,344

Net income per share-basic	$	0.34		$	0.35								$	0.28													$	0.22				$	0.39

Pro forma Weighted average shares-basic		61,794			127,920									189,714														189,714					189,714

Net income per share-diluted	$	0.34		$	0.35								$	0.28													$	0.22				$	0.39

Pro forma Weighted average shares-diluted		62,859			127,920									190,779														190,779					190,779

for the Quarter Ended June 30, 2005
(In thousands Except Per Share Data)


																											Tax Adjusted
							Pro Forma									Recapitalization		2005 FIS						Pro Forma,			Purchase Price
	Certegy			FIS			adjustments			Note			Pro Forma			Adjustments		Acquisitions			Note			as adjusted			Amortization		Cash Earnings
Total revenue	$	276,023		$	708,713		$	—					$	984,736		$	—							$	984,736
Total cost of revenue		196,466			453,504			20,570			(1	)		670,278			—		563			(6	)		670,841
		—			—			(262	)		(2	)

Gross profit (loss)		79,557			255,209			(20,308	)					314,458			—		(563	)					313,895
General and administrative		35,188			109,318			(1,310	)		(2	)		143,196			—								143,196
Research and development costs		—			28,303									28,303					—						28,303
Merger and Acquisition Costs		992			—			(992	)		(3	)		—			—		—						—

Income (loss) from operations		43,377			117,588			(18,006	)					142,959			—		(563	)					142,396
Interest income (expense) and other		(2,674	)		(36,029	)		—						(38,703	)		—								(38,703	)

Income from continuing operations before tax and min. int		40,703			81,559			(18,006	)					104,256			—		(563	)					103,693
Provision for income tax		15,312			31,380			(6,698	)		(4	)		39,994			—		(209	)					39,785

Income from continuing operations		25,391			50,179			(11,308	)					64,262			—		(354	)					63,908
Equity in earnings (loss) of unconsolidated entities, net		—			1,006			—						1,006			—		—						1,006
Minority interests in earnings, net of tax		—			(2,609	)		—						(2,609	)		—		988						(1,621	)

Net income	$	25,391		$	48,576		$	(11,308	)				$	62,659		$	—	$	634					$	63,293		$	32,232	$	95,525

Net income per share-basic	$	0.41		$	0.38								$	0.33										$	0.33				$	0.50

Pro forma Weighted average shares-basic		61,899			127,920									189,819											189,819					189,819

Net income per share-diluted	$	0.40		$	0.38								$	0.33										$	0.33				$	0.50

Pro forma Weighted average shares-diluted		63,029			127,920									190,949											190,949					190,949

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations

for the Quarter Ended September 30, 2005
(In thousands Except Per Share Data)


																											Tax Adjusted
							Pro Forma									Recapitalization		2005 FIS						Pro Forma,			Purchase Price
	Certegy			FIS			adjustments			Note			Pro Forma			Adjustments		Acquisitions			Note			as adjusted			Amortization		Cash Earnings
Total revenue	$	282,774		$	698,109		$	—					$	980,883		$	—							$	980,883
Total cost of revenue		201,997			447,794			20,570			(1	)		670,099			—		563			(6	)		670,662
		—			—			(262	)		(2	)

Gross profit (loss)		80,777			250,315			(20,308	)					310,784			—		(563	)					310,221
General and administrative		30,749			93,047			(1,310	)		(2	)		122,486			—								122,486
Research and development costs		—			33,545									33,545					—						33,545
Merger and Acquisition Costs		7,010			—			(7,010	)		(3	)		—			—		—						—

Income (loss) from operations		43,018			123,723			(11,988	)					154,753			—		(563	)					154,190
Interest income (expense) and other		(2,451	)		(34,937	)		—						(37,388	)		—								(37,388	)

Income from continuing operations before tax and min. int		40,567			88,786			(11,988	)					117,365			—		(563	)					116,802
Provision for income tax		17,900			31,112			(4,460	)		(4	)		44,552			—		(209	)					44,343

Income from continuing operations		22,667			57,674			(7,528	)					72,813			—		(354	)					72,459
Equity in earnings (loss) of unconsolidated entities, net		—			2,135			—						2,135			—		—						2,135
Minority interests in earnings, net of tax		—			(1,917	)		—						(1,917	)		—		740						(1,177	)

Net income	$	22,667		$	57,892		$	(7,528	)				$	73,031		$	—	$	386					$	73,417		$	29,227	$	102,644

Net income per share-basic	$	0.37		$	0.45								$	0.38										$	0.39				$	0.54

Pro forma Weighted average shares-basic		62,017			127,920									189,937											189,937					189,937

Net income per share-diluted	$	0.36		$	0.45								$	0.38										$	0.38				$	0.54

Pro forma Weighted average shares-diluted		63,313			127,920									191,233											191,233					191,233

for the Quarter Ended December 31, 2005
(In thousands Except Per Share Data)


																								Tax Adjusted
							Pro Forma									Recapitalization		2005 FIS			Pro Forma,			Purchase Price
	Certegy			FIS			adjustments			Note			Pro Forma			Adjustments		Acquisitions		Note	as adjusted			Amortization		Cash Earnings
Total revenue	$	295,886		$	707,683		$	—					$	1,003,569		$	—				$	1,003,569
Total cost of revenue		202,826			461,912			20,570			(1	)		685,046			—					685,046
		—			—			(262	)		(2	)

Gross profit (loss)		93,060			245,771			(20,308	)					318,523			—		—			318,523
General and administrative		28,692			109,702			(1,310	)		(2	)		137,084			—					137,084
Research and development costs		—			27,714									27,714					—			27,714
Merger and Acquisition Costs		2,860			—			(2,860	)		(3	)		—			—		—			—

Income (loss) from operations		61,508			108,355			(16,138	)					153,725			—		—			153,725
Interest income (expense) and other		(2,132	)		(39,701	)		—						(41,833	)		—					(41,833	)

Income from continuing operations before tax and min. int		59,376			68,654			(16,138	)					111,892			—		—			111,892
Provision for income tax		22,958			25,539			(6,003	)		(4	)		42,494			—		—			42,494

Income from continuing operations		36,418			43,115			(10,135	)					69,398			—		—			69,398
Equity in earnings (loss) of unconsolidated entities, net		(117	)		650			—						533			—		—			533
Minority interests in earnings, net of tax		—			1,721			—						1,721			—		—			1,721

Net income	$	36,301		$	45,486		$	(10,135	)				$	71,652		$	—	$	—		$	71,652		$	29,162	$	100,814

Net income per share-basic	$	0.58		$	0.36								$	0.38							$	0.38				$	0.53

Pro forma Weighted average shares-basic		62,326			127,920									190,246								190,246					190,246

Net income per share-diluted	$	0.57		$	0.35								$	0.37							$	0.37				$	0.52

Pro forma Weighted average shares-diluted		63,796			129,657									193,453								193,453					193,453

Appendix B

Notes to Unaudited Pro Forma Combined Statements of Continuing Operations for the four quarters of the
year ended December 31, 2005 and the six months ended June 30, 2006
These combined statements of continuing operations include the historical statements of continuing
operations of Certegy and FIS, the recapitalization and purchase of the minority interest from Kordoba as
though those transactions had occurred on January 1, 2005, 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 commencing 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. The increase in amortization expense is $111.7 million offset by historical amortization of $29.4 million, or $82.3 million for the year ended December 31, 2005 and is allocated straight-line over the four quarters as presented.

(2)

Under the merger agreement, all Certegy stock options and restricted stock and restricted stock units will vest 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 2005, because such expense will be reflected at the time of closing of the merger. This adjustment amounts to a reduction in cost of revenues of $1.0 million and in selling, general and administrative costs of $11.2 million for the year ended December 31, 2005 and is allocated straight line over the four quarters presented. Also, at closing, Certegy will grant approximately (1) 1.1 million options, which based on current assumptions, would have a fair value under SFAS No. 123R of approximately $11 per option, vesting over four years, and (2) 750,000 options, which based on current assumptions would have a fair value under SFAS No. 123R of approximately $12 per option, vesting over three years. The pro forma adjustment to increase stock compensation expense for these option grants is $5.9 million in 2005, all of which is reflected in selling, general and administrative costs and allocated straight line over the four quarters presented.

(3)

Reflects the removal of merger and acquisition costs that were recognized as expense by Certegy in 2005.

(4)

Reflects the tax benefit relating to the pro forma adjustments at the FIS tax rate of approximately 37.2% for the year ended December 31, 2005.

(5)

Reflects an increase in interest expense for the year ended December 31, 2005 of $21.0 million, as if the recapitalization completed on March 9, 2005 was completed on January 1, 2005.

(6)

This column represents the adjustments to purchase amortization and minority interest expense relating to the September 30, 2005 acquisition of the remaining 25.1% interest in Kordoba that FIS did not already own as if that acquisition occurred on January 1, 2005.

Appendix C

Unaudited Pro Forma and Historical Segment Information

for the Quarters Ended March 31 and June 30, 2006 and March 31, June 30, September 30 and December 31, 2005

(In thousands Except Per Share Data)


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 selected items		133,005		134,223		(22,661	)		244,567


2006- Quarter 2	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		612,076		408,081		1,789			1,021,946		612,076		408,081		1,789			1,021,946
Cost of revenues		474,648		245,070		—			719,718		474,648		245,070		—			719,718

Gross profit		137,428		163,011		1,789			302,228		137,428		163,011		1,789			302,228
Selling, general and admin costs		51,089		50,173		24,604			125,866		51,089		50,173		24,605			125,867
Research development costs		15,268		8,378		—			23,646		15,268		8,378		—			23,646

Operating income		71,071		104,460		(22,815	)		152,716		71,071		104,460		(22,816	)		152,715
Depreciation and amortization		72,906		35,104		2,364			110,374		72,906		35,104		2,364			110,374

EBITDA		143,977		139,564		(20,451	)		263,090		143,977		139,564		(20,452	)		263,089


ProForma EBITDA		143,977		139,564		(20,451	)		263,090
Merger and Acquisition costs		3,530		1,842		1,606			6,978
Acceleration of performance-based shares		—		—		—			—

ProForma EBITDA, excluding selected items		147,507		141,406		(18,845	)		270,068


2006- Year to Date	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		1,204,587		808,581		2,629			2,015,797		1,113,624		808,581		677			1,922,882
Cost of revenues		942,538		479,591		—			1,422,129		862,464		479,591		—			1,342,055

Gross profit		262,049		328,990		2,629			593,668		251,160		328,990		677			580,827
Selling, general and admin costs		95,015		109,236		154,234			358,485		90,605		109,236		71,755			271,596
Research development costs		34,345		17,361		—			51,706		34,345		17,361		—			51,706

Operating income		132,689		202,393		(151,605	)		183,477		126,210		202,393		(71,078	)		257,525
Depreciation and amortization		143,540		71,224		3,535			218,299		132,500		71,224		3,445			207,169

EBITDA		276,229		273,617		(148,070	)		401,776		258,710		273,617		(67,633	)		464,694


ProForma EBITDA		276,229		273,617		(148,070	)		401,776
Merger and Acquisition costs		4,283		2,012		82,434			88,729
Acceleration of performance-based shares		—		—		24,130			24,130

ProForma EBITDA, excluding selected items		280,512		275,629		(41,506	)		514,635


2005 - 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		560,284		354,867		(1,113	)		914,038		297,826		354,867		(1,113	)		651,580
Cost of revenues		437,462		203,780		—			641,242		226,295		203,780		—			430,075

Gross profit		122,822		151,087		(1,113	)		272,796		71,531		151,087		(1,113	)		221,505
Selling, general and admin costs		52,334		62,821		28,906			144,061		28,506		62,821		19,229			110,556
Research development costs		19,461		4,475		—			23,936		19,461		4,475		—			23,936

Operating income		51,027		83,791		(30,019	)		104,799		23,564		83,791		(20,342	)		87,013
Depreciation and amortization		70,375		38,502		525			109,402		37,039		38,502		199			75,740

EBITDA		121,402		122,293		(29,494	)		214,201		60,603		122,293		(20,143	)		162,753


2005 - Quarter 2	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		596,696		388,390		(350	)		984,736		320,673		388,390		(350	)		708,713
Cost of revenues		446,143		224,698		—			670,841		228,806		224,698		—			453,504

Gross profit		150,553		163,692		(350	)		313,895		91,867		163,692		(350	)		255,209
Selling, general and admin costs		53,969		53,079		36,148			143,196		29,198		53,079		27,041			109,318
Research development costs		20,775		7,528		—			28,303		20,775		7,528		—			28,303

Operating income		75,809		103,085		(36,498	)		142,396		41,894		103,085		(27,391	)		117,588
Depreciation and amortization		70,635		36,399		2,346			109,380		36,929		36,399		2,035			75,363

EBITDA		146,444		139,484		(34,152	)		251,776		78,823		139,484		(25,356	)		192,951


2005 - Year to Date	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		1,156,980		743,257		(1,463	)		1,898,774		618,499		743,257		(1,463	)		1,360,293
Cost of revenues		883,605		428,478		—			1,312,083		455,101		428,478		—			883,579

Gross profit		273,375		314,779		(1,463	)		586,691		163,398		314,779		(1,463	)		476,714
Selling, general and admin costs		106,303		115,900		65,054			287,257		57,704		115,900		46,270			219,874
Research development costs		40,236		12,003		—			52,239		40,236		12,003		—			52,239

Operating income		126,836		186,876		(66,517	)		247,195		65,458		186,876		(47,733	)		204,601
Depreciation and amortization		141,010		74,901		2,871			218,782		73,968		74,901		2,234			151,103

EBITDA		267,846		261,777		(63,646	)		465,977		139,426		261,777		(45,499	)		355,704


2005 - Quarter 3	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		570,015		413,591		(2,723	)		980,883		287,241		413,591		(2,723	)		698,109
Cost of revenues		439,483		231,179		—			670,662		216,615		231,179		—			447,794

Gross profit		130,532		182,412		(2,723	)		310,221		70,626		182,412		(2,723	)		250,315
Selling, general and admin costs		35,315		55,693		31,478			122,486		13,312		55,693		24,042			93,047
Research development costs		26,294		7,251		—			33,545		26,294		7,251		—			33,545

Operating income		68,923		119,468		(34,201	)		154,190		31,020		119,468		(26,765	)		123,723
Depreciation and amortization		68,145		34,334		2,376			104,855		34,360		34,334		2,089			70,783

EBITDA		137,068		153,802		(31,825	)		259,045		65,380		153,802		(24,676	)		194,506


2005 - Quarter 4	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		598,576		405,313		(320	)		1,003,569		302,690		405,313		(320	)		707,683
Cost of revenues		455,542		229,504		—			685,046		232,408		229,504		—			461,912

Gross profit		143,034		175,809		(320	)		318,523		70,282		175,809		(320	)		245,771
Selling, general and admin costs		44,480		63,062		29,542			137,084		23,873		63,062		22,767			109,702
Research development costs		19,172		8,542		—			27,714		19,172		8,542		—			27,714

Operating income		79,382		104,205		(29,862	)		153,725		27,237		104,205		(23,087	)		108,355
Depreciation and amortization		74,328		35,358		2,142			111,828		40,522		35,358		1,872			77,752

EBITDA		153,710		139,563		(27,720	)		265,553		67,759		139,563		(21,215	)		186,107


2005 - Full Year	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		2,325,571		1,562,161		(4,506	)		3,883,226		1,208,430		1,562,161		(4,506	)		2,766,085
Cost of revenues		1,778,630		889,161		—			2,667,791		904,124		889,161		—			1,793,285

Gross profit		546,941		673,000		(4,506	)		1,215,435		304,306		673,000		(4,506	)		972,800
Selling, general and admin costs		186,098		234,655		126,074			546,827		94,889		234,655		93,079			422,623
Research development costs		85,702		27,796		—			113,498		85,702		27,796		—			113,498

Operating income		275,141		410,549		(130,580	)		555,110		123,715		410,549		(97,585	)		436,679
Depreciation and amortization		283,483		144,593		7,389			435,465		148,850		144,593		6,195			299,638

EBITDA		558,624		555,142		(123,191	)		990,575		272,565		555,142		(91,390	)		736,317

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