Earnings Call Excerpt
Global Payments, Inc. (GPN)
F3Q09 Earnings Call
April 2, 2009 5:00 pm ET
Executives
Jane Elliott – Vice President, Investor Relations
Paul Garcia – Chief Executive Officer
James Kelly – President, Chief Operating Officer
David Mangum – Executive Vice President, Chief Financial Officer
Analysts
Kartik Mehta – FTN Midwest
Moshe Katri – Cowen and Co.
Analyst for Jason Kupferberg – UBS Securities
Julio Quinteros - Goldman Sachs
Tien-tsin Huang - JP Morgan
Bryan Keane – Credit Suisse
Robert Napoli - Piper Jaffray
Thomas McCrohan – Janney Montgomery Scott
Robert Dodd – Morgan Keegan
Roger Smith – Fox-Pitt, Kelton
David Koning - Robert W. Baird
Franco Turrinelli – William Blair
Presentation
Operator
Welcome to Global Payments’ third quarter fiscal 2009 earnings conference call. (Operator Instructions) At this time I would like to turn the conference over to your host, Vice President of Investor Relations, Ms. Jane Elliott. Ms. Elliott, please go ahead Ma’am.
Jane Elliott
Good afternoon and welcome to Global Payments fiscal 2009 third quarter conference call. Our call today is scheduled for one hour. Joining me on the call are Paul Garcia, Chairman and CEO; James Kelly, President and COO and David Mangum, EVP 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 that are subject to risks and uncertainties that could cause actual results to vary which are discussed in our public releases including our most recent 10K.
We caution you not to put undue reliance on forward-looking statements. Forward-looking statements made during this call speak only as of the date of this call and in addition, some of the comments made on this call may refer to normalized results which are not in accordance with GAAP. Management believes that normalized results more clearly reflect comparative operating performance.
For a full reconciliation of normalized to GAAP results in accordance with Regulation G, please see our press release filed as an exhibit to our Form 8K dated today, April 2, 2009 which may be located under the Investor Relations area on our website at www.globalpaymentsinc.com.
I’d like to now introduce Paul Garcia.
Paul Garcia
Thank you Jane. Thank you everyone for joining us this afternoon. For our fiscal 2009 third quarter we achieved revenue of $393 million which represents 26% growth and normalized earnings per share of $0.45 representing 2% growth over last year. These results include the impact of unfavorable foreign currency trends and continuing macro economic headwinds both of which we detailed during our conference call last quarter. David will take you through the FX impact for the quarter but I am happy to report that on a constant currency basis our revenue and EPS growth are 38% and 25% respectively.
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