Global Payments, a provider of payment technology services, has posted a net income attributable to company of $37.18m for the fourth quarter of fiscal year 2016, a slump of 43% compared to $65.32m a year ago.
For the quarter ended 31 may 2016, revenues were $747.06m, a dip of 5.7% as against $706.55m in the year ago period.
Operating income declined 45.8% to $56.2m from $103.6m in the fourth quarter of fiscal year 2015.
Cash operating margin expanded to 28.1%, a 40 basis point increase over the fourth quarter of fiscal 2015. On a constant currency basis, cash operating margin increased 70 basis points, the company said in its earnings statement.
Global Payments CFO Cameron Bready said: “Following another year of strong financial performance, as well as the completion of our transformational merger with Heartland, we are pleased to announce accelerated growth guidance for fiscal 2017.”
The company’s Board of Directors approved a quarterly dividend of $0.01 per share to shareholders.
For fiscal 2017, the company expects constant currency adjusted net revenue of $3.25bn to $3.35bn, or 50% to 54% growth over fiscal 2016.