Global Payments Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2012. For the quarter, the company reported revenues of $588.538 million compared to $530.505 million a year ago. Operating income was $116.582 million compared to $96.580 million a year ago. Income before income taxes were $104.160 million compared to $93.961 million a year ago. Net income attributable to company was $70.183 million or $0.89 per diluted share compared to $61.181 million compared to $0.78 per diluted share a year ago. On cash basis, the company reported operating income of $116.429 million, income before income taxes of $112.390 million and net income attributable to company of $73.586 million or $0.93 per diluted share compared to operating income of $108.733 million, income before income taxes of $106.114 million and net income attributable to company of $67.632 million or $0.86 per diluted share a year ago. During the quarter, capital expenditures totaled $25 million, primarily related to intrusion remediation activities and data center initiatives.

For six months, the company reported revenues of $1,178.825 million compared to $1,073.276 million a year ago. Operating income was $197.070 million compared to $205.190 million a year ago. Income before income taxes were $183.086 million compared to $200.985 million a year ago. Net income attributable to company was $116.858 million or $1.48 per diluted share compared to $125.155 million compared to $1.57 per diluted share a year ago. Net cash provided by operating activities were $124.793 million compared to net cash used in operating activities of $314.066 million a year ago. Capital expenditures were $54.393 million compared to $35.146 million a year ago. On cash basis, the company reported operating income of $233.092 million, income before income taxes of $227.491 million and net income attributable to company of $142.382 million or $1.80 per diluted share compared to operating income of $229.986 million, income before income taxes of $225.781 million and net income attributable to company of $138.445 million or $1.73 per diluted share a year ago. The company generated free cash flow of $32 million, which included cash outflows related to the processing system intrusion.

For the full-year of fiscal 2013, the company continues to expect annual revenue of $2,360 million to $2,400 million, or 7% to 9% growth over fiscal 2012. Annual expectations for fiscal 2013 diluted earnings per share on a cash basis are now increased to a range of $3.61 to $3.68, or growth of 2% to 4% over fiscal 2012. On a constant currency basis, the company continues to expect revenue to grow 8% to 10% and diluted earnings per share on a cash basis to grow 5% to 7%. Annual fiscal 2013 GAAP diluted earnings per share, excluding the impact of all intrusion remediation costs, are expected to be in a range of $3.01 to $3.08. Both cash and GAAP diluted earnings per share expectations exclude the impact of any potential future share repurchases. The company expects both GAAP and cash effective tax rates to approach 29% for the full year of fiscal 2013 and thus expects to report higher tax rates in the third quarter and fourth quarter as compared to the second quarter. The company continues to anticipate its full year fiscal capital expenditures will total about $110 million.