TSYS has announced its Q1 2013 earnings, reporting basic earnings per share of $0.31 and a jump in profit of 3 percent.
The payments processor generated $465 million in revenue, up 0.8 percent from 2012, and diluted EPS came in at $0.30 for an increase of 1.7 percent over 2012.
“We recognized the financial results associated with our acquisition of ProPay, Inc., during the quarter and we look forward to benefiting from the new sales channels they provide in our merchant segment. Merger and acquisition expenses associated with the pending acquisition of NetSpend were $6.2 million in the quarter,” said Phillip W. Tomlinson, chairman and CEO at TSYS.
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