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Business

TSYS profit dips, sees better 2011

By
Jan 25, 2011

Columbus-based payments firm TSYS said on Tuesday its profit dipped in the fourth quarter and for all of 2010, but it forecast earnings per share growth of 9 percent to 11 percent in 2011.

Weakened consumer sales and turmoil in the banking industry made 2010 a challenging year for the payments firm.

Philip W. Tomlinson, chairman and CEO of TSYS, told analysts that despite lingering economic challenges, the company’s business model "is showing signs of strength that we’re excited about.”

TSYS reported net income of $47.2 million in fourth quarter, down 21.7 percent from its $60.2 profit a year earlier. Per-share earnings were 24 cents vs. 31 cents a year earlier.

For the year, TSYS logged a profit of $193.9 million, or 99 cents per share, compared to $215.2 million, or $1.09 per share in 2009.

Revenue was $440 million for the quarter, up 1.7 percent, and $1.7 billion for the year, up 2.4 percent.

TSYS processed 7.7 billion card transactions in 2010, up 5.5 percent.

About the Author

J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.

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