The company attributed increased revenues to higher sales volume and transactions in both the domestic and overseas markets.
For the first three months of current fiscal, its adjusted EBITDA stood at $38.5m, up by 14%, from $33.7m during the same period previous fiscal.
Adjusted EBITDA margin grew to 46.7% compared to 44.5% in the first quarter of 2011, mainly due to operating leverage and successful implementation of cost savings initiatives.
EVERTEC’s president and chief executive officer Peter Harrington said the firm has plans to expand into additional Latin American markets and capitalize on the secular shift to electronic payments and ongoing technology outsourcing trends.
For the quarter period ended on 31 March 2012, its transaction processing segment revenues rose by 13%, merchant acquiring segment net revenues increased by 20%, and business solutions segment revenues grew by 3%.
For the latest quarter period, the company’s total operating costs and expenses, excluding depreciation and amortization, stood at $46.7m, versus $46m during the first three months of 2011.
