Increases Annual Fiscal 2015 Revenue, Margin and Cash EPS Outlook
Global Payments Inc. (NYSE: GPN) today announced results for its fiscal first quarter ended August 31, 2014.
"We are delighted with our performance for the first quarter, which represents an excellent start to our 2015 fiscal year and further demonstrates the success of our focus on solid business execution and disciplined capital deployment," said Jeff Sloan, Chief Executive Officer. "We continue to expand our direct distribution globally and are enthusiastic about our agreements to acquire Ezidebit and Fidelity National Information Services' gaming business. Both of these transactions underscore our strategy to drive direct sales growth in attractive markets, deliver innovative products and solutions and leverage technological advantages."
First Quarter 2015 Summary
Cameron Bready, Executive Vice President and Chief Financial Officer, stated, "As a result of our strong first quarter performance and the anticipated closing of the Ezidebit transaction during our fiscal second quarter, we are raising our annual fiscal 2015 revenue outlook to $2.74 billion to $2.79 billion, or 7% to 9% percent growth. In addition we are increasing our outlook for annual fiscal 2015 diluted earnings per share on a cash basis to a range of $4.65 to $4.75, reflecting growth of 13% to 15% over fiscal 2014, and annual fiscal 2015 GAAP diluted earnings per share is expected to be in the range of $3.89 to $3.99. We also now expect annual fiscal 2015 core cash operating margins to expand by as much as 40 basis points."
First Quarter 2015 Dividend
Global Payments' board of directors approved a fiscal 2015 first quarter dividend of $0.02 per common share payable November 28, 2014 to shareholders of record as of November 14, 2014.
¹See Schedule 2 for cash earnings and Schedules 6 and 7 for reconciliations of historical cash earnings to GAAP.
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