July 26 Global Payments Inc's
fourth-quarter profit fell 90 percent on costs related to a
security breach affecting about 1.5 million cardholder numbers
but the company forecast a higher profit in 2013.
Net income attributable to Global Payments fell in the
fourth quarter to $5.1 million, or 6 cents a share, from $58.6
million, or 72 cents a share a year ago.
Cash earnings, excluding the data breach charge, were 97
cents a share in the quarter, Atlanta-based Global Payments
said. Revenue grew 15 percent to $597 million.
For the 2013 year, the company expects cash earnings per
share of between $3.59 and $3.66, on revenue of between $2.36
billion and $2.4 billion.
In March, Global Payments said it had found 'unauthorized
access' had been made to its systems.
The company took an $84.4 million pre-tax charge related to
the breach, which includes an estimate of costs from the card
brands and investigation of the breach.
Shares of the company closed at $42.51 on Thursday on the
New York Stock Exchange.