TSYS Says Q1 Revenue Rose 32%, Sells Japanese Business Interests

Total System Services Inc. on April 22 reported first quarter revenue of $592.8 million, up 32.1 percent from $448.8 million during the same period ended March 31 last year. Net income was down 12.7 percent to $51.6 million.

The company’s stock price closed at $29.20, up 0.83 percent from Monday’s $28.86 closing price. TSYS also reported the sale of its business interests in Japan.

Total revenues by segment for the quarter were North America Services, $262.2 million, up 9.3 percent from $239.8 million a year earlier; International Services, $82.4 million, up 1.9 percent from $80.9 million; Merchant Services, $104.6 million, down 4.3 percent from $109.3 million; and NetSpend, $132.6 million. TSYS, which acquired NetSpend last year, didn’t report first quarter revenue for the company.

Accounts on file for North America totaled 495.5 million, up 17.2 percent from 422.8 million; transactions totaled 2.33 billion, up 15.9 percent from 2.01 billion. International segment accounts totaled 60.7 million, up 9 percent from 55.7 million; transaction volume totaled 517.9 million, up 19.3 percent from 434 million.

Merchant point-of-sale transaction volume totaled 982.2 million, down 10.7 percent from 1.1 billion, as sales volume rose 6.4 percent, to $10.78 billion from $10.13 billion. NetSpend gross dollar volume reached $6.57 billion, up 22.1 percent from $5.38 billion; 90-day active cards totaled 3.6 million, up 12.5 percent from 3.2 million.

Direct-deposit 90-day active NetSpend cards totaled 2.1 million, up 23.5 percent from 1.7 million. The percentage of 90-day active cards with direct deposit jumped to 56.6 percent from 54.1 percent year over year.

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