Below is the transcript of the Global Payments Inc (NASDAQ:GPN) Fiscal 2015 Second Quarter Conference Call made on Thursday, January 8, 2015, 08:00 AM ET.
Global Payments Inc (NASDAQ:GPN) is a Fortune 1000 company that describes itself as “one of the largest worldwide providers of payment solutions for merchants, value added resellers, enterprise software providers, financial institutions, government agencies, multinational corporations and independent sales organizations located throughout North America, South America, Europe and the Asia-Pacific region.”
In their press release for the Fiscal 2015 Second Quarter Earnings Conference Call, GPN Executives announced that the company “further increases its annual Fiscal 2015 revenue, margin and cash EPS outlook” as it “raises share repurchase authorization to $300 million.”
Jane Marie Elliott – Executive Vice President and Chief of Staff, Global Payments, Inc.
Jeffrey S. Sloan – Chief Executive Officer, Global Payments, Inc.
David E. Mangum – President and Chief Operating Officer, Global Payments, Inc.
Cameron M. Bready – Executive Vice President and Chief Financial Officer, Global Payments, Inc.
David J. Koning, CFA – Senior Research Analyst, BPO, Robert W. Baird and Company
Ashwin Shirvaikar – Director / Senior Analyst, Citigroup
Bryan Keane – Managing Director in Equity Research, Deutsche Bank
Tien-tsin Huang – Senior Analyst, JPMorgan Chase & Co.
Dan Perlin – Managing Director at RBC Capital Markets
Georgios Mihalos – Vice President, Equity Research at Credit Suisse
Jason Kupferberg – Senior Equity Research Analyst, Jefferies Group LLC
Glenn Greene – Managing Director/Analyst at Oppenheimer & Co Inc
Darrin Peller – Managing Director at Barclays Investment Bank
Andrew Jeffrey – Analyst, SunTrust Robinson Humphrey.
Ladies and gentlemen, thank you for standing by and welcome to Global Payments (NASDAQ: GPN) Fiscal 2015 Second Quarter Conference Call. At this time, all participants are in listen-only mode. Later, we will open the lines for questions and answers. If you should require assistance, just call. Please press star then zero and as a reminder, today’s conference will be recorded. At this time, I would like to turn the conference over to your host, the Executive Vice President and Chief of Staff Jane Elliot. Please go ahead.
Jane Marie Elliott, Executive Vice President and Chief of Staff, Global Payments, Inc.
Thank you. Good morning and welcome to Global Payments Fiscal 2015 Second Quarter Conference Call. Our call today is scheduled for one hour and joining me on the call are Jeff Sloan, CEO, David Mangum, President and COO and Cameron Bready, Executive Vice President and CFO. Before we begin, I’d like to remind you that some of the comments made by management during the conference call contain forward-looking statements which are subject to risk and uncertainties discussed in our SEC filings including our most recent 10-K and Form 10-Q. These risks and uncertainties could cause actual results to differ materially. We caution you not to place undue reliance on these statements. Forward-looking statements made during this call speak only as of the date of this call and we undertake no obligation to update them.
In addition, some of the comments made on this call may refer to certain measures such as cash earnings which are not in accordance with GAAP. Management believes these measures more clearly reflect comparative operative performance. For full reconciliation of cash earnings and other non-GAAP financial measures to GAAP results in accordance with Regulation-G, please see our Press Release furnished as an exhibit to our Form 8-K filed this morning and our trended financial highlights both of which are available in the Investor Relations area of our website at www.globalpaymentsinc.com. Now, I’d like to introduce Jeff Sloan. Jeff?
Jeff Sloane, Chief Executive Officer, Global Payments Inc.
Thank you Jane, and thanks everyone for joining us this morning. We are delighted to deliver another quarter of strong performance and to again, raise our Fiscal 2015 revenue margins and cash earnings per share guidance. By remaining intensely focused on execution, we achieved revenue growth for our Fiscal Second Quarter of 10%, cash earnings per share growth of 19% and operating margin expansion of 100 basis points.