TSYS: They turned thirty five in 2018 and are still going strong
TSYS, the Columbus-headquartered company that processes credit card transactions in the U.S. and internationally, reported this week a first-quarter profit of $161.6 million, up about 13 percent over the same period last year.
“Our first quarter results provide a great start to the year. We delivered strong performance across all three of our segments, which helped to solidify our expectations for the remainder of 2019,” said M. Troy Woods, chairman, president and chief executive officer of TSYS in a release.
Here are some other highlights from the company’s most recent quarter:
Gains in net revenue in Q1
In addition to profits, TSYS reported increases in net revenue compared to the first quarter of 2018. In the first three months of the year, TSYS saw net revenues of about $980.3 million, an increase of 4.8 percent over last year’s first quarter.
In the company’s fourth quarter report for 2018, TSYS projected that its net revenue for the entirety of 2019 would rise five by 5 to 7 percent.
New agreements and big renewals
TSYS announced several new agreements and renewals during the quarter. The company signed new agreements with SunTrust and Model Mais, the company’s second client in Brazil.
T-Mobile also established a new relationship with TSYS. The mobile communications firm will sell a white-labeled version of TSYS’ Vital point-of-sale (POS) software on their handsets and tablets.
TSYS expanded agreements with Capital One, Citibank and Synovus — another Columbus based company. TSYS also announced several partner renewals with Brink’s, Western Union and Circle K.
Forbes ranked TSYS among its list of America’s Best Employers for the third year in a row. The Columbus company ranked 270 out of 500 on the large companies list. The company’s point-of-sale solution won the 2019 FinTech Breakthrough Award for Best Small Business Payments Solution.
About the company
TSYS employs 13,000 with offices in 13 countries. The company processed more than 32.3 billion transactions in 2018 and generated about $4 billion in total revenue.
A copy of the company’s financial report for the first quarter of 2019 can be found below.