TSYS Results Top Estimates

(RTTNews) - TSYS (TSS) on Tuesday reported first-quarter net earnings of $77.8 million or $0.42 per share compared with $49.3 million or $0.26 per share last year.

Excluding items, adjusted earnings for the quarter were $0.54 per share compared with $0.38 per share a year ago.

Revenues for the quarter were $662.2 million compared with $592.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.46 per share on revenues of $642.7 million for the quarter. Analysts' estimates typically exclude special items.

"Through diligent planning and execution, along with the extraordinary efforts of many to complete the largest credit card portfolio conversion in the history of payments, we delivered exceptional results for the first quarter," said CEO Troy Woods.

For the full year 2015, the company now expects adjusted earnings of $2.19 to $2.23 per share, up from prior guidance of $2.17 to $2.21 per share. Revenues are still expected in the range of $2.62 billion to $2.66 billion.

Analysts expect earnings of $2.21 per share on revenues of $2.65 billion for the year.