Merchant processor Global Payments Inc. on March 31 reported net income of $47.8 million for its fiscal third quarter ended Feb. 28, down 1% from $48.5 million during the same period last year. Revenues, however, increased by 15%, to $456.4 million from $398.5 million.
Third-quarter results exclude pretax expenses related to start-up and duplicate costs associated with the company’s global service center in Manila, Philippines, the Atlanta-based process noted in a press release.
“Our businesses performed as we expected during the quarter, and I am delighted that we have successfully completed the back-end settlement platform migration of our UK merchant portfolio to our own platform at the end of February as we anticipated,” Paul R. Garcia, Global Payments chairman and CEO, said in the release.
