TSYS reported results for the first quarter of 2014 and announced the sale of its business interests in Japan. The accompanying financial statements have been adjusted to exclude the Japanese results from ongoing operations in 2014 and 2013 with those results reported as “discontinued operations” for all periods presented. Total revenues for the quarter were $592.8 million, an increase of 32.1%.
Revenues before reimbursable items were $532.8 million, an increase of 37.3%. The reported results for the quarter for both total revenues and revenues before reimbursable items exclude $16.2 million of revenue for Japan as a result of moving these results to discontinued operations. Adjusted EBITDA was $149.6 million, an increase of 21.2%. Income from continuing operations was $50.6 million. Adjusted cash earnings per share (EPS) from continuing operations was $0.38. On a GAAP basis, basic EPS from continuing operations was $0.26. Diluted EPS from continuing operations was $0.26.