TSYS reported results for the first quarter of 2018.

“We are off to an outstanding start to 2018, producing diluted earnings per share growth of over 35% for the quarter. We delivered exceptional performance across all three of our segments and were especially pleased with the completion of our Cayan acquisition during the quarter. These outstanding results and expectations for the remainder of the year provided us with great momentum and have allowed us to increase our financial outlook for 2018,” said M. Troy Woods, chairman, president and chief executive officer of TSYS.

Highlights for the first quarter of 2018 vs. 2017:

• Total revenues were $987.2 million, a decrease of 16.7%. The decrease is the result of adopting ASC 606. (1)

• Net revenue (non-GAAP), which excludes reimbursable items, interchange and payment network fees, was $935.5 million, an increase of 12.3%.

• Net income attributable to TSYS common shareholders was $141.8 million, an increase of 34.0%. Diluted EPS were $0.77, an increase of 35.2%.

• Adjusted earnings (non-GAAP) were $207.6 million, an increase of 36.3%. Adjusted diluted EPS (non-GAAP) were $1.13, an increase of 37.6%.

• Adjusted EBITDA (non-GAAP) was $330.9 million, an increase of 15.2%.

(1) On January 1, 2018, TSYS adopted Accounting Standards Codification (ASC) 606 "Revenue from Contracts with Customers" using the modified retrospective transition method. The most significant impact of adopting ASC 606 in 2018 is primarily the result of gross versus net presentation of interchange and payment network fees. In 2018, these fees collected on behalf of the payment networks and card issuers are presented "net" of the amounts paid to them, as opposed to the "gross" presentation for certain of these fees in 2017.

Revised 2018 Outlook

TSYS' revised 2018 guidance is as follows:

(2)The estimated impact of the adoption of ASC 606(1) on TSYS' revised 2018 Outlook is as follows: