Total System Services, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenues of $1,273,289,000 against $1,132,224,000 a year ago. Operating income was $173,921,000 against $130,547,000 a year ago. Income before income taxes and equity in income of equity investments was $146,219,000 against $100,422,000 a year ago. Income before equity in income of equity investments was $234,258,000 against $67,213,000 a year ago. Net income attributable to company's common shareholders was $242,208,000 against $73,950,000 a year ago. Diluted EPS was $1.31 against $0.40 per basic and diluted share a year ago. Net revenue was $870,613,000 against $785,709,000 a year ago. Adjusted EBITDA was $293,277,000 against $266,547,000 a year ago. Adjusted earnings were $151,036,000 against $129,620,000 a year ago. Adjusted diluted EPS was $0.82 against $0.70 a year ago.

For the full year, the company reported total revenues of $4,927,965,000 against $4,170,077,000 a year ago. Operating income was $734,044,000 against $573,382,000 a year ago. Income before income taxes and equity in income of equity investments was $617,562,000 against $461,032,000 a year ago. Income before equity in income of equity investments was $551,684,000 against $299,857,000 a year ago. Net income attributable to company's common shareholders was $586,185,000 against $319,638,000 a year ago. Diluted EPS was $3.16 against $1.73 a year ago. Net revenue was $3,400,332,000 against $3,041,876,000 a year ago. Adjusted EBITDA was $1,197,673,000 against $1,040,551,000 a year ago. Adjusted earnings were $624,183,000 against $516,419,000 a year ago. Adjusted diluted EPS was $3.37 against $2.80 a year ago. Net cash provided by operating activities was $856,492,000 against $718,029,000 a year ago. Capital expenditures were $196,026,000 against $142,573,000 a year ago.

The company provided earnings guidance for the year 2018. For the period, the company expects total revenues (GAAP) of $3,850 million to $3,950 million, net revenue (non-GAAP) of $3,650 million to $3,750 million, diluted EPS (GAAP) of $2.85 to $2.95 and adjusted diluted EPS attributable to company's common shareholders (non-GAAP) of $4.10 to $4.20. Due to the refinancing of company's bonds due in June of 2018, the added debt related to company's Cayan acquisition and other capital-related activities, the company expects its 2018 calendar year interest expense to be approximately $45 million to $50 million higher than in 2017. Based on the current estimations, the company estimates that the effective tax rate for 2018 will be in the 21% to 23% range, down from the 32% to 33% effective range estimated for 2017 that was communicated earlier. For 2018, the company expects consolidated adjusted EBITDA margin to expand in the 25 to 50 basis point range, consistent with the range provided in last Investor Day and inclusive of the impacts from the accelerated investments. The company would expect free cash flow to be between $770 million to $800 million inclusive of the cash tax benefit from the Tax Cuts and Job Act.