Fiserv reports 25% increase in fourth quarter profits

Brookfield-based Fiserv, Inc. reported an increase of 25% in profits in the fourth quarter, the result of declining expenses and a one-time gain from discontinued operations of $20 million (14 cents/share). The company reported fourth quarter net income of $179 million ($1.32/share) compared to $143 million ($1.01/share) a year earlier. Fiserv is a financial technology provider. Adjusted earnings per share matched analyst expectations at $1.39. Fiserv announced in January that it had acquired Open Solutions, Inc., a competitor, adding 3,300 customers worldwide.