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Global Payments Reports Fourth Quarter and Year-End Earnings
Data Intrusion Investigation Completed
Signs Agreement to Acquire Remaining 44% Interest in Asia-Pacific Joint Venture
Board Authorizes $150 Million Share Repurchase Program
ATLANTA, July 26, 2012 Global Payments Inc. (NYSE: GPN) today announced results for its fiscal fourth quarter and year ended May 31, 2012.
Chairman and CEO Paul R. Garcia said, I am pleased that in a challenging year we delivered strong results with revenues of $2.2 billion or 18% growth, and cash earnings per share of $3.53 or 15% growth over prior year. In addition, I am delighted to announce that we recently completed our data intrusion investigation, and we are focused on executing the remediation plan.
We continue to drive strategies that will produce sustainable long-term growth, so I am pleased to announce that we have signed an agreement to acquire the remaining 44% interest in our merchant services joint venture in Asia-Pacific from HSBC. Lastly, our Board of Directors has authorized a $150 million share repurchase program, which I believe demonstrates our confidence in the company, Garcia concluded.
Full-Year 2012 Summary
Revenues grew 18% to $2,203.8 million compared to $1,859.8 million in 2011.
Cash diluted earnings per share1 from continuing operations grew 15% to $3.53 compared to $3.08 in the prior year.
GAAP fiscal 2012 full-year diluted earnings per share from continuing operations of $2.37, compared to $2.61 diluted earnings per share from continuing operations in the prior year.
See Schedule 2 for Cash Earnings and Schedules 6 and 7 for Reconciliations of Cash Earnings to GAAP.
The following information was filed by Global Payments Inc (GPN) on Thursday, July 26, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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