Fiserv Inc., a Brookfield-based maker of financial software systems, has reported a 3.8% drop in third-quarter net income.
The company’s Q3 net income of $127 million, or 89 cents per share, compares with $132 million, or 87 cents, in the same quarter in 2010. Early debt retirement accounted for a loss of 11 cents per share.
Fiserv revenue approached $1.1 billion in Q3, up 3.7% from the same quarter of 2010.
Jeffery Yabuki, president and CEO of Fiserv, said revenue, earnings, and sales are in line with expectations. “Continuing traction with our new solutions should provide increased momentum entering 2012,” he said in a company press release.
Fiserv also cited new and expanded client relationships with the likes of Anchor Bank, BMO Harris Bank, Bremer Financial Corp., and other U.S. banks.
