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Global Payments sees net income, revenues rise YOY in fiscal Q3

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Global Payments sees net income, revenues rise YOY in fiscal Q3

GlobalPayments Inc. on April 6 reported net income attributable to thecompany of $69.1 million, or 53 cents per share, for the fiscal third quarterended Feb. 29, compared to $62.6 million, or 46 cents per share, in theyear-ago quarter.

The S&P Global Market Intelligence consensus GAAP EPSestimate for the quarter was 53 cents.

On a GAAP basis, total revenues came in at $679.9 million,versus $665.0 million a year ago. Adjusted net revenue totaled $497.0 million,up year over year from $467.8 million. On a constant currency basis, adjustednet revenue grew 11%.

For the full fiscal 2016 year, Global Payments expects to beat the upper end of its constant currency adjusted net revenue growthexpectation of 10% to 12% over fiscal 2015. It also raised expectations formargin expansion and cash EPS. The company now anticipates annual fiscal 2016cash operating margin to increase by at least 100 basis points on a constantcurrency basis and EPS on a cash basis to range from $2.93 to $3.00. Theoutlook excludes any impact from the pending Heartland Payment Systems Inc. .

The company intends to resume its normal capital allocationpolicies, including being a consistent buyer of its stock, when it completesthe Heartland acquisition.