Board Authorizes New $250 Million Share Repurchase Program
Announces Expanded Partnership with CaixaBank in Brazil
ATLANTA, July 25, 2013 -- Global Payments Inc. (NYSE: GPN) today announced results for its fiscal fourth quarter and year ended May 31, 2013. The company delivered revenues of $2.4 billion or 8% growth and cash earnings per share of $3.65 or 3% growth over prior year.
Chairman and CEO Paul R. Garcia said, “We are focused on delivering a strong fiscal 2014 with cash earnings per share growth of 8% to 10%. Importantly, this includes a significant step up in annual security costs. Excluding these costs, annual cash earnings per share growth for fiscal 2014 would be 12% to 14%.
“I am also delighted to announce that our Spanish partner, CaixaBank, will be taking a 50% share in Global Payments Brazil. This expands our strategic partnership with CaixaBank and will provide us the opportunity to grow more rapidly in this important region with potential further expansion into other Latin American markets over time,” continued Garcia.
Full-Year 2013 Summary
Revenues grew 8% to $2,375.9 million, compared to $2,203.8 million in fiscal 2012.
Cash diluted earnings per share1 grew 3% to $3.65, compared to $3.53 in the prior fiscal year.
GAAP full-year diluted earnings per share of $2.76, compared to $2.37 diluted earnings per share in the prior year.
1 See Schedule 2 for Cash Earnings and Schedule 6 and 7 for Reconciliations of Cash Earnings to GAAP.
The following information was filed by Global Payments Inc (GPN) on Thursday, July 25, 2013 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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Ticker: GPN CIK: 1123360 Form Type:10-K Annual Report Accession Number: 0001123360-13-000025 Submitted to the SEC: Thu Jul 25 2013 5:20:18 PM EST Accepted by the SEC: Thu Jul 25 2013 Period: Friday, May 31, 2013 Industry: Business Services