Tsys posts Q1 results

Source: TSYS

TSYS today announced first quarter of 2008 total revenues of $462 million, operating income of $87 million, net income of $57 million, and basic earnings per share of $0.29 on a generally accepted accounting principles (GAAP) basis.

Included in operating expenses in the quarter were $6.9 million of non-recurring spin-related expenses, or approximately $0.02 per share. Excluding these one-time items related to the spin-off of TSYS by its former parent, Synovus Financial Corp., on December 31, 2007, non-GAAP earnings per share for the quarter were $0.31.

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