Exhibit 99.2
Combined Statement of Income
GLOBAL PAYMENTS INC.
(in thousands)
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FY 00 ACTUAL FY 00 NORMALIZED
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Qtr 1 Qtr 2 Qtr 3 Qtr 4 Total Year Qtr 1 Qtr 2 Qtr 3 Qtr 4 Total Year
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Revenue
Merchant Services $84,202 $78,835 $76,324 $78,901 $318,262 $78,662 $76,556 $74,479 $76,830 $306,527
Funds Transfer 5,626 5,339 5,503 5,303 21,771 5,335 5,100 5,137 5,084 20,656
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89,828 84,174 81,827 84,204 340,033 83,997 81,656 79,616 81,914 327,183
Operating expenses:
Cost of service 46,022 45,891 44,541 45,025 181,479 43,808 43,898 42,993 43,339 174,038
Sales, general and administrative 23,267 23,008 23,866 25,201 95,342 22,962 22,517 23,620 24,886 93,985
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69,289 68,899 68,407 70,226 276,821 66,770 66,415 66,613 68,225 268,023
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Operating income 20,539 15,275 13,420 13,978 63,212 17,227 15,241 13,003 13,689 59,160
EBITDA 25,668 20,375 18,074 19,123 83,240 22,356 20,341 17,657 18,834 79,188
Other income/(expense)
Interest and other income 283 361 513 (361) 796 283 361 513 (361) 796
Interest and other expense (1,522) (1,657) (1,626) (1,314) (6,119) (1,680) (1,815) (1,784) (1,473) (6,752)
Minority interest in earnings (1,071) (923) (1,031) (1,092) (4,117) (1,071) (923) (1,031) (1,092) (4,117)
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(2,310) (2,219) (2,144) (2,767) (9,440) (2,468) (2,377) (2,302) (2,926) (10,073)
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Income before income taxes 18,229 13,056 11,276 11,211 53,772 14,759 12,864 10,701 10,763 49,087
Income Taxes 7,025 5,033 4,346 4,321 20,725 5,688 4,958 4,126 4,149 18,921
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Net Income 11,204 8,023 6,930 6,890 33,047 9,071 7,906 6,575 6,614 30,166
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Basic Shares 27,101 26,701 26,336 26,204 26,586 27,101 26,701 26,336 26,204 26,586
Basic Earnings per Share $ 0.41 $ 0.30 $ 0.26 $ 0.26 $ 1.24 $ 0.33 $ 0.30 $ 0.25 $ 0.25 $ 1.13
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Pro Forma Diluted Shares 27,348 26,878 26,561 26,384 26,793 27,348 26,878 26,561 26,384 26,793
Pro Forma Diluted Earnings per Share $ 0.41 $ 0.30 $ 0.26 $ 0.26 $ 1.23 $ 0.33 $ 0.29 $ 0.25 $ 0.25 $ 1.13
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Combined Statement of Income
GLOBAL PAYMENTS INC.
(in thousands)
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FY 01 ACTUAL FY 01 NORMALIZED
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Qtr 1 Qtr 2 Qtr 3 Qtr 4 Total Year Qtr 1 Qtr 2 Qtr 3 Qtr 4 Total Year
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Revenue
Merchant Services $82,076 $77,752 $76,745 $ 98,406 $334,979 $80,053 $76,895 $76,745 $ 98,406 $332,099
Funds Transfer 5,115 4,879 3,929 4,293 18,216 5,115 4,879 3,929 4,293 18,216
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87,191 82,631 80,674 102,699 353,195 85,168 81,774 80,674 102,699 350,315
Operating expenses:
Cost of service 45,881 43,250 44,607 58,651 192,389 44,296 42,563 44,607 55,655 187,121
Sales, general and administrative 24,729 23,409 24,101 30,639 102,878 24,502 23,238 24,101 30,639 102,480
Restructuring and other - - - 4,882 4,882 - - - - -
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70,610 66,659 68,708 94,172 300,149 68,798 65,801 68,708 86,294 289,601
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Operating income 16,581 15,972 11,966 8,527 53,046 16,370 15,973 11,966 16,405 60,714
EBITDA 21,497 20,871 16,958 15,476 74,802 21,285 20,872 16,958 23,354 82,469
Other income/(expense)
Interest and other income 700 530 260 549 2,039 700 530 260 549 2,039
Non-cash loss on investment - - - (5,000) (5,000) - - - - -
Interest and other expense (1,791) (1,599) (1,425) (1,356) (6,171) (2,205) (2,013) (1,425) (1,356) (6,999)
Minority interest in earnings (1,427) (1,233) (1,295) (1,475) (5,430) (1,427 (1,233) (1,295) (1,475) (5,430)
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(2,518) (2,302) (2,460) (7,282) (14,562) (2,932) (2,716) (2,460) (2,282) (10,390)
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Income before income taxes 14,063 13,670 9,506 1,245 38,484 13,438 13,257 9,506 14,123 50,324
Income Taxes 5,414 5,263 3,660 479 14,816 5,174 5,104 3,660 5,437 19,375
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Net Income 8,649 8,407 5,846 766 23,668 8,264 8,153 5,846 8,686 30,949
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Basic Shares 26,222 26,311 26,475 34,339 28,616 26,222 26,311 26,475 34,339 28,616
Basic Earnings per Share $ 0.33 $ 0.32 $ 0.22 $ 0.02 $ 0.83 $ 0.32 $ 0.31 $ 0.22 $ 0.25 $ 1.08
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Pro Forma Diluted Shares 26,403 26,716 27,080 35,224 29,134 26,403 26,716 27,080 35,224 29,134
Pro Forma Diluted Earnings per Share $ 0.33 $ 0.31 $ 0.22 $ 0.02 $ 0.81 $ 0.31 $ 0.31 $ 0.22 $ 0.25 $ 1.06
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