TSYS today announced the results for the third quarter with total revenues of $457.6 million, and a 26.7% increase in net income over the same period in 2006.
For the first nine months of 2007, TSYS' total revenues were $1.3 billion, operating income increased 19.2% to $272.8 million, and net income increased to $191.8 million, an 18.3% increase over the same period in 2006.
"Our financial results are exciting with operating margins year-to-date up 300 basis points from 22.6% to 25.6%. This is the sixth quarter in a row that we have shown margin improvement over the same quarter for the prior year. For the third quarter, our operating and net income both were up 26% over the third quarter of 2006. Our revenue growth continues to pick up steam with international revenues growing 38% year-to-date over 2006," said Philip W. Tomlinson, chairman and chief executive officer of TSYS.
"We are especially proud of our new client commitments for the quarter. These wins in a very competitive market will help drive future growth globally. We remain laser focused on existing clients who generated organic revenue growth of 15% year-to-date in our core processing business. When you consider the obstacles and challenges we faced a year ago, our team has done a magnificent job and we look forward to our future with a great deal of optimism," said Tomlinson.
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