Earnings Call Excerpt
First Data (FDC)
Q1 2006 Earnings Conference Call
April 21, 2006, 8:00 a.m. EST
Executives
Ric Duques - Chairman and Chief Executive Officer
Kim Patmore - Chief Financial Officer
Gary Kohn - Vice President Investor Relations
Analysts
Greg Gould - Goldman Sachs
Adam Frisch - UBS
James Kissane - Bear Stearns
Paul Bartolai - Credit Suisse
Mark Marostica - Piper Jaffray
Pat Burton - Citigroup
Bryan Keane - Prudential
Brandt Sakakeeny - Deutsche Bank
Andrew Jeffrey - Robinson Humphrey
Greg Smith - Merrill Lynch
Presentation
Operator
Welcome and thank you for standing by. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question and answer session. Today’s conference is being recorded. If you have any objections, you may disconnect at this time. I’ll turn the meeting over to Mr. Gary Kohn, Vice President Investor Relations.
Gary Kohn
Good morning. Thank you for joining us today. With me today are Ric Duques, Chairman and Chief Executive Officer, and Kim Patmore, Chief Financial Officer. Today’s call is being recorded. Our comments today include forward-looking statements and I ask that you refer to the cautionary language and earnings release for additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements.
During the call, we will discuss items that do not conform to GAAP. We have reconciled those measures to the GAAP measures on our website under the Invest section under the financial headings.
A reminder that all statements made by First Data officers on this call are the property of First Data and subject to copyright protection. Other than the replay, First Data has not authorized and disclaims responsibility for any recording, replay or distribution of any transcription of this call. As always, we’ll have time for questions following our prepared comments. With that, I’ll turn it over to Ric.
Ric Duques
Thank you, Gary. Good morning, everybody. Well, 2006 is off to a solid start. The first quarter results were squarely in line with our first quarter operating plan for 2006. We are very pleased with the underlying strength in all of our major segments, especially commercial services, and we are on track to deliver our full year 2006 guidance.
When we met in January, we guided you to $0.47 to $0.50 of earnings, and I am pleased to say that our reported EPS is $0.48, and this includes a net negative of $0.01 impact, primarily from the settlement of a previously filed patent lawsuit. Excluding this settlement, earnings per share for the quarter would have been $0.49.
- Driving growth through processing for new clients and expanding our services in issuance, merchant, and ATM markets.
- Driving efficiencies by consolidating and integrating into a common platform.
- Targeting strategic acquisitions and partnerships.
Well, listen, I attended the sales kick-off meeting, and to say that it’s energized is an understatement. I think that he just knows the industry well, so I don’t think he’s just a sales guy. I think he basically knows the industry extremely well and he knows a lot of the people here, he knows the ?right
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