Citing improving economic conditions, Total System Services Inc. reported a 3.9% increase in second-quarter revenue from a year earlier.
The Columbus, Ga., payments processor's revenue rose to $447.6 million. Its net income rose 4%, to $54.6 million.
"We continue to see the improvements we expected in 2011 as evidenced by our year over year quarterly revenue growth," with and without allowing for termination fees, Philip W. Tomlinson, TSYS' chairman and chief executive, said in a press release Tuesday.
The company used approximately $252 million in capital to repurchase its own shares this year. Tomlinson said results from the quarter "confirm our confidence in the improving economic conditions and our expectation that we will be successful at achieving our full-year guidance for 2011."
For North America, TSYS' total revenue fell 1.2%, to $233.9 million, from a year earlier. Its accounts on file at the end of the quarter rose 12.9%, to 328.3 million. Its transaction volume rose 12.5%, to 1.8 billion.
For international services, its revenue rose 25.3%, to $97.7 million. Its accounts on file rose 13.5%, to 47.8 million. Its transaction volume rose 14.3%, to 340.6 million.
For merchant services, its revenue dropped 0.7%, to $123.1 million. Its point of sale transaction volume fell 10.6%, to 1.27 billion.
