Processor Total System Services Inc., or TSYS, this afternoon reported fourth quarter net income of $51.6 million, down 18% from $62.9 million during the same period last year, Revenue was up 1.7%, to $440 million from $432.5 million.
“We continued to see growth in transactions in our card-issuing services and merchant business for the fourth quarter that resulted in organic revenue growth of 4%, and same-client issuer transactions increased 5.3% for the year,” Philip W. Tomlinson, the Columbus, Ga.-based company’s chairman and chief executive, said in a news release announcing company earnings. “Including the acquisition of TSYS Merchant Solutions (formerly First National Merchant Solutions), revenues from our Merchant Segment rose from 19% to 27% of consolidated total revenues. We believe this diversification will contribute to our growth and benefit our margins in the future.”
TSYS acquired First National Bank of Omaha’s stake in First National Merchant Solutions LLC earlier this month (
For North America, TSYS reported total revenues of $234 million, down 7.7% from $253.6 million. Accounts on file were down 2.8%, to 296.7 million from 305.2 million. Transaction volume rose 9.5%, to 1.73 billion from 1.58 billion.
International Services generated revenues of $92.3 million, down 9% from $101.4 million. Accounts on file were up 17.2%, to 46.3 million from 39.5 million. Transaction volume was up 12.8%, to 357.9 million from 317.3 million.
TSYS’s Merchant Services segment generated $122.5 million in revenues, up 42.9% from $85.7 million.
