TSYS (NYSE: TSS) today reported results for the first quarter.
“Through diligent planning and execution, along with the extraordinary efforts of many to complete the largest credit card portfolio conversion in the history of payments, we delivered exceptional results for the first quarter,” said M. Troy Woods, chairman, president and chief executive officer of TSYS.
Highlights for the first quarter of 2015 include:
Adjusted earnings per share (EPS) from continuing operations were $0.54, an increase of 41.2%. On a GAAP basis, basic EPS from continuing operations were $0.42, an increase of 60.4%.
Income from continuing operations attributable to TSYS’ shareholders was $77.8 million, an increase of 57.7%.
Adjusted EBITDA was $193.5 million, an increase of 29.3%.
Total revenues for the quarter were $662.2 million, an increase of 11.7%. Revenues before reimbursable items were $595.8 million, an increase of 11.8%.
Adjusted operating margin was 25.9%. GAAP operating margin was 18.5%.
“During the quarter, we repurchased 1.45 million shares of our stock, and including dividends, we returned 73% of available free cash flow to our shareholders. As a result of the great start to the year, we are revising our adjusted EPS guidance to grow between 12-14% from the previous range of 11-13%,” said Woods.
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