TSYS on Tuesday (Oct. 28) reported third quarter revenue of $616.9 million, an 8.1 percent increase, and income from continuing operations jumped 27.9 percent to $82.9 million. It also reported double-digit revenue growth in three key segments.
“We had an outstanding third quarter as we saw our organic revenue grow 8.5 percent, consolidated adjusted operating margin increase to 28.9 percent and all four segments improve their adjusted operating margins on a sequential basis for the second quarter in a row,” said M. Troy Woods, president and chief executive officer of TSYS. “Our incredibly strong foundation allows our team members to focus on growing our company in order to achieve our vision of being the leading global payment solutions provider.”
Highlights for the third quarter of 2014 include:
- GAAP operating margin was 23.4 percent.
- Total revenues for the quarter were $616.9 million, an increase of 8.1 percent. Revenues before reimbursable items were $552.9 million, an increase of 8.5 percent.
- Adjusted EBITDA was $198.0 million, an increase of 10.4 percent.
- Income from continuing operations attributable to TSYS shareholders was $82.9 million, an increase of 27.9 percent.
- Adjusted earnings per share (EPS) from continuing operations was $0.56, an increase of 12.5 percent. On a GAAP basis, basic EPS from continuing operations was $0.45, an increase of 30.6 percent.
- Double-digit reported revenue growth in three segments.
- Total accounts on file exceeded 600 million for the first time.
- Successful roll-out of an enterprise solution to support Apple Pay.