April 26, 2011 04:00 PM Eastern Daylight Time
COLUMBUS, Ga.--(BUSINESS WIRE)--TSYS (NYSE: TSS) today reported results for the first quarter 2011 with total revenues of $429.4 million, an increase of 3.9% over 2010. Excluding termination fees in 2010, total revenues increased 10.0%. Basic EPS from continuing operations was $0.25. Excluding termination fees in 2010, basic EPS from continuing operations increased 35.1%.“The economic momentum generated during the last two quarters continues to move us forward, and has reinforced our enthusiasm for 2011. Our same-client cardholder transaction volumes increased 9.6%, marking the sixth consecutive quarter of growth. Organic revenue growth continues to improve with the first quarter at 3.9%. We are in-line to achieve our financial guidance for 2011,” said Philip W. Tomlinson, chairman of the board and chief executive officer of TSYS.
“We continue to enhance shareholder value through our deployment of capital through acquisitions and share repurchases. We completed the purchase of the remaining 49% interest in TSYS Merchant Solutions in January for a net purchase price of $169.5 million. In addition, we purchased 2 million shares of stock during the quarter under our share repurchase plan, bringing the total purchased over the past three quarters to 5 million shares,” said Tomlinson.
Conference Call
TSYS will host its quarterly conference call at 5:00 p.m. ET on Tuesday, April 26. The conference call can be accessed via simultaneous Internet broadcast at tsys.com by clicking on the link under "Webcasts" on the main homepage. The replay will be archived for 12 months and will be available approximately 30 minutes after the completion of the call. A slide presentation to accompany the call will be available by clicking on the link under "Webcasts" on the main homepage of tsys.com.
Non-GAAP Measures
This press release and the financial highlights section of this release contain the non-GAAP financial measures of revenues and basic EPS excluding revenues from termination fees and the impact of revenues and operating results on a constant currency basis, respectively, to describe TSYS’ performance. Management uses these non-GAAP financial measures to better understand and assess TSYS’ operating results and financial performance. TSYS believes these non-GAAP financial measures provide meaningful additional information about TSYS to assist investors in understanding and evaluating its operating results.
Additional information about non-GAAP financial measures and a reconciliation of those measures to the most directly comparable GAAP measures are included on pages 10 and 11 of this release.
About TSYS
TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers, supporting cross-border payments in more than 85 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks. For more information, please visit us at www.tsys.com.
