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Global Payments posts Q2 profit rise

08 January 2010  |  8336 views  |  0 Source: Global Payments

Global Payments (NYSE: GPN) today announced results for its fiscal second quarter ended November 30, 2009.

For the second quarter, revenues grew 12% to $409.0 million compared to $365.9 million in the prior year. Diluted earnings per share from continuing operations grew 25% to $0.71 compared to $0.57 in the prior year.

Chairman and CEO, Paul R. Garcia, stated, "Despite challenging macroeconomic conditions, we reported solid financial performance this quarter, driven by strong growth in our U.S. ISO channel and continued successful execution in our International businesses.

"Based on our current outlook for continuing operations, we expect fiscal 2010 annual revenue of $1,580 million to $1,615 million, or 8% to 10% growth over fiscal 2009, and we are increasing our fiscal 2010 diluted EPS expectations to $2.35 to $2.46, reflecting 12% to 17% growth over fiscal 2009 EPS," said Garcia.

As a result of the company's recently announced divestiture of its Money Transfer business, the company has classified and reported Money Transfer as discontinued operations in its financial statements.

Read the full statement here:

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