"We finished 2014 on a high note. Organic revenue grew 5.8%, year over year, with total revenues growing 18.5% and revenues before reimbursable items up 20.2%," said M. Troy Woods, president and chief executive officer of TSYS.

Highlights for the fourth quarter of 2014 include:

• Adjusted earnings per share (EPS) from continuing operations were $0.58, an increase of 20.8%. On a GAAP basis, basic EPS from continuing operations were $0.45, an increase of 28.8%.
• Income from continuing operations attributable to TSYS' shareholders was $83.2 million, an increase of 25.9%.
• Adjusted EBITDA was $193.7 million, an increase of 7.0%.
• Total revenues for the quarter were $635.1 million, an increase of 8.9%. Revenues before reimbursable items were $569.3 million, an increase of 8.4%.
• Adjusted operating margin was 27.2%. GAAP operating margin was 19.3%.
• TSYS repurchased 1.5 million shares during the quarter.

Highlights for the full year 2014 results include:

• Adjusted EPS from continuing operations were $1.96, an increase of 13.2%. On a GAAP basis, basic EPS from continuing operations were $1.48, an increase of 12.8%.
• Income from continuing operations attributable to TSYS' shareholders was $275.2 million, an increase of 11.5%.
• Adjusted EBITDA was $712.3 million, an increase of 14.1%.
• Total revenues were $2.4 billion, an increase of 18.5%. Revenues before reimbursable items were $2.2 billion, an increase of 20.2%.
• Adjusted operating margin was 25.7%. GAAP operating margin was 17.6%.
• TSYS repurchased 5.2 million shares for the year.

"With the purchase of 5.2 million shares of our stock during the year and our annual dividend of $0.40 per share, we deployed over 94% of available free cash flow to our shareholders in 2014. Including our purchase of 3.1 million shares in December of 2013, we repurchased 8.3 million shares of our stock deploying $262.9 million of capital during that 13 month period," said Woods.

TSYS also announced that its Board of Directors has approved a new share repurchase plan that authorizes the repurchase of up to 20 million shares of TSYS stock, which replaces its existing share repurchase plan. The shares may be repurchased from time to time in the open market or in privately negotiated transactions at prices TSYS deems appropriate, subject to market conditions, business opportunities and other factors. This authorization has no expiration date and may be suspended or terminated at any time.

2015 Financial Outlook

"Our guidance for 2015 is included in the table below and we expect another year of strong growth in revenues and adjusted EPS. The results for 2014 and our guidance for 2015 reflect our focus on diversification, growth and the exceptional performance of our TSYS team," said Woods.