TSYS reported its second quarter earnings yesterday (July 28) and proved that it was off to a strong mid-year start to 2015.
Overall, TSYS‘ income from continuing operations was $82.8 million, an increase of 38.6 percent from the same quarter a year prior. Total revenues for the quarter were $692.7 million, an increase of 15.1 percent, year over year. As for the first six months of 2015, revenues were $1.4 billion, an increase of 13.4 percent from the same period in 2014.
“For the second quarter in a row, we exceeded our expectations that resulted in another outstanding quarter and year-to-date performance. Organic revenue grew 13.7 percent year-to-date as we continue to deliver exceptional performance across our key metrics,” M. Troy Woods, chairman, president and chief executive officer of TSYS, said in a company release.
“As a result of our great performance during the first half of the year, we are raising our revenues before reimbursables guidance range to 10–12 percent, up from the previous range of 8–10 percent, and our adjusted earnings per share (EPS) guidance range to 15–17 percent, up from the previous range of 12–14 percent,” Woods said.
He also shared what impact the positive earnings had for its shareholders.
“During the quarter, we purchased 700,000 shares of our stock under our share repurchase program bringing our year-to-date total to 2.2 million shares with a total spend of $83.5 million. Coupled with our dividends of $36.9 million, we returned $120.4 million to our shareholders, which was 74.2 percent of available year-to-date free cash flow,” Woods said.
TSYS announced last month that it has enhanced its card production capabilities with an eye on the October 2015 transition to EMV and chip cards in an effort to help businesses navigate the liability shifts that will occur with that transition.
The company, which through its services arm offers consulting and other aids to firms issuing chip cards, said in a release that its Chip Card on Demand manufacturing service launch seeks to help merchants by allowing chips to be added to EMV-capable magnetic stripe cards. Alternatively, chips can also be added to customized cards issued from TSYS Card Shop during production.
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