Citing improving economic conditions, Total System Services Inc., or TSYS, on July 26 reported a 3.9% increase in second-quarter revenue, to $447.6 million from $430.8 million during the same period a year ago. Net income was $54.6 million, up 4% from $52.5 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 CEO, said in a press release.
Noting the company this year has used approximately $252 million in capital to repurchase its own shares, Tomlinson said results from the quarter ended June 30 “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 $236.8 million a year earlier. Accounts on file at the end of the quarter totaled 328.3 million, up 12.9% from 290.7 million. Transaction volume rose 12.5%, to 1.8 billion from 1.6 billion.
International Services generated revenues of $97.7 million, up 25.3% from $78 million. Accounts on file rose 13.5%. to 47.8 million from 42.1 million. Transaction volume rose 14.3%. to 340.6 million from 297.9 million.
Merchant Services contributed revenues of $123.1 million, down 0.7% from $124 million. Point-of-sale transaction volume fell 10.6%. to 1.27 billion from 1.42 billion.
