Tsys today reported results for the fourth quarter and full year with basic earnings per share from continuing operations at $0.31 for the quarter, an increase of 29.4%, and $1.15 for the full year, an increase of 14.4% over 2010.
Total revenues for the quarter were $472.2 million, an increase of 7.3%, and $1,809.0 million for the year, an increase of 5.3%. Revenues before reimbursable items were $407.7 million and $1,540.7 million, an increase of 9.1% and 6.8%, respectively, for the quarter and the year.
"We are pleased to report that we met or exceeded the high end of our guidance for 2011. Our 2011 results reflect continued strong same client transaction growth of 11.2% in our card issuer processing. The driving forces behind our results were consolidated organic revenue growth of 4.7% for the year, combined with acquisitions in the acquiring space, which added 2.9% to our growth in revenues before reimbursable items," said Philip W. Tomlinson, chairman and chief executive officer of TSYS.
"During the fourth quarter, we purchased 2.4 million shares of our stock in the open market for $47.7 million, which brought our full year repurchase totals to 6.6 million shares for $120.6 million. All shares were purchased at values that we believe were attractive. We continue to pursue acquisitions that meet our strategy of being the leading global payment solutions provider. During the year, we deployed approximately $335 million of capital for share repurchases and acquisitions as we continue to aggressively invest in our future and add shareholder value. We were also pleased to announce a 42.9% increase in our quarterly dividends and a total shareholder return of 29.2% for 2011. We continue to believe TSYS will have good growth in 2012, resulting in our guidance of double digit growth in earnings per share and a solid top line revenue increase," said Tomlinson.
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