Sept 27 Global Payments Inc, which
provides electronic payments processing services, said quarterly
profit fell due to higher costs and a charge related to a
security breach earlier this year.
First-quarter profit fell to $46.6 million, or 59 cents per
share, from $63.9 million, or 79 cents per share, a year
Revenue rose 9 percent to $590.2 million. Cash earnings were
87 cents per share, in line with analysts' estimates.
The company took a one-time charge of 20 cents per share in
the quarter on account of an intrusion into its processing
In March, it said an "unauthorized access" had been made
into its systems, compromising credit card data. Following the
breach, card network Visa Inc dropped the company from its
list of approved service providers.
Global Payments reaffirmed its full-year cash earnings
target of $3.59 per share to $3.66 per share and revenue target
of $2.36 billion to $2.40 billion.
The company also expects to close a new five-year term loan
facility of $700 million in the coming days, it said in a
The company's shares, which closed at $43.80 on Wednesday on
the New York Stock Exchange, were down 1 percent in extended