10-QPeriod: Q3 FY2001

GLOBAL PAYMENTS INC Quarterly Report for Q3 Ended Nov 30, 2001

Filed January 14, 2002For Securities:GPN

Summary

GLOBAL PAYMENTS INC (GPN) filed its 10-Q for the period ending November 30, 2001. The report indicates no material adverse impact is expected from pending legal proceedings, providing a degree of stability for investors. Key corporate governance actions were confirmed at the 2001 Annual Meeting of Shareholders, including the election of directors and the ratification of Arthur Andersen LLP as independent auditors. Significant strategic growth was demonstrated through the acquisition of National Bank of Canada's merchant acquiring portfolio for $45.9 million. This acquisition, coupled with a ten-year marketing alliance, signifies an expansion of GPN's market reach and service offerings, suggesting a proactive approach to business development and revenue diversification.

Key Highlights

  • 1No material adverse impact expected from pending legal proceedings.
  • 2Director elections for Class I and Class III completed at the 2001 Annual Meeting.
  • 3Arthur Andersen LLP ratified as independent public accountants for the year ending May 31, 2002.
  • 4Acquisition of National Bank of Canada's merchant acquiring portfolio completed for $45.9 million.
  • 5Formation of a ten-year alliance with National Bank of Canada for marketing merchant payment services.
  • 6The report confirms no defaults upon senior securities or changes in securities.
  • 7No exhibits were filed with this 10-Q report.

Frequently Asked Questions

Management believes that the ultimate outcome of all pending claims and lawsuits, when considered in aggregate, will not have a material adverse impact on the Company's financial position, liquidity, or results of operations.

The 2001 Annual Meeting saw the election of Edwin H. Burba, Jr. and Richard E. Venn as Class I Directors, and I. David Marshall as a Class III Director. Additionally, Arthur Andersen LLP was ratified as the independent public accountants for the fiscal year ending May 31, 2002.

On October 2, 2001, Global Payments Inc. acquired National Bank of Canada's merchant acquiring portfolio for $45.9 million USD. This was accompanied by a ten-year alliance to market merchant payment-related products and services to the bank's customers.

No, the filing explicitly states that there were no changes in securities and no defaults upon senior securities during the reported period.