Total System Services, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
For the year, the company reported total revenues of $4,170,077,000 compared to $2,779,541,000 a year ago. Operating income was $573,382,000 compared to $534,107,000 a year ago. Income before noncontrolling interests and equity in income of equity investments was $300,039,000 compared to $345,524,000 a year ago. Net income attributable to common shareholders was $319,638,000 or $1.73 per diluted share compared to $364,044,000 or $1.97 per diluted share a year ago. Net revenue was $3,041,876,000 compared to $2,499,349,000 a year ago. Adjusted EBITDA was $1,040,551,000 compared to $833,920,000 a year ago. Adjusted EPS was $2.81 compared to $2.46 a year ago. Adjusted operating income was $856,995,000 compared to $668,177,000 a year ago. Net cash provided by operating activities was $717,909,000 compared to $600,194,000 a year ago. Adjusted earnings were $516,419,000 compared to $452,112,000 a year ago. Capital expenditures were $142,573,000 compared to $203,315,000 a year ago. Free cash flow (non-GAAP) was $575,336,000 compared to $396,879,000 a year ago.
The company provided earnings guidance for the year 2017. For the year, the company expects total revenues (GAAP) of $4,750 million to $4,850 million, net revenue (non-GAAP) of $3,275 million to $3,325 million, diluted EPS (GAAP) of $2.14 to $2.21 and adjusted diluted EPS attributable to common shareholders (non-GAAP) of $3.05 to $3.15. The company expects the effective tax rate to be in the 33% to 34% range.