Exhibit 99.1

 

 

Picture 6

 

Picture 7

 

 

 

 

Picture 1

 

 

 

TSYS Reports Second Quarter Earnings and Increases 2018 Outlook

 

Columbus, Ga., July 24, 2018 –

TSYS (NYSE:  TSS) today reported results for the second quarter of 2018.

“We were very pleased with the performance and momentum of the second quarter as all three of our segments continue to deliver exceptional results.  This performance enables us to again raise our guidance for the year while continuing to invest for the long term in preparation for our solid pipeline of new business,” said M. Troy Woods, chairman, president and chief executive officer of TSYS. 

 

Highlights for the second quarter of 2018 vs. 2017:

·

Total revenues were $1,007.6 million, a decrease of 17.6%. The decrease is the result of adopting ASC 606.(1)

·

Net revenue (non-GAAP), which excludes reimbursable items, interchange and payment network fees, was $956.5 million, an increase of 13.3%.

·

Net income attributable to TSYS common shareholders was $142.4 million, an increase of 23.8%.  Diluted EPS were $0.78, an increase of 25.0%.

·

Adjusted earnings (non-GAAP) were $203.8 million, an increase of 28.8%.  Adjusted diluted EPS (non-GAAP) were $1.11, an increase of 30.0%.

·

Adjusted EBITDA (non-GAAP) was $345.0 million, an increase of 12.1%.

(1)

On January 1, 2018, TSYS adopted Accounting Standards Codification (ASC) 606 “Revenue from Contracts with Customers” using the modified retrospective transition method. The most significant impact of adopting ASC 606 in 2018 is primarily the result of gross versus net presentation of interchange and payment network fees. In 2018, these fees collected on behalf of the payment networks and card issuers are presented “net” of the amounts paid to them, as opposed to the “gross” presentation for certain of these fees in 2017.

 

 


The following information was filed by Total System Services Inc (TSS) on Tuesday, July 24, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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