Atlanta-based Global Payments reported reported that net income for the first quarter grew 36% to $16.5 million compared to the prior year quarter. Revenue for the quarter was up 30% to $162.6 million. The performance was primarily driven by high-teen transaction growth in the Company’s ISO and domestic direct distribution channels. GPN also says it continues to gain operating leverage through greater economies of scale and the ongoing consolidation of operating functions. As a result, the Company raised its fiscal 2004 annual revenue guidance of $597 million to $617 million, to a range of $610 million to $620 million, reflecting growth of 18% to 20%. GPN noted that $18.3 million in first quarter revenues were due to recent acquisitions, which primarily consists of DolEx and, to a lesser extent, the MUZO acquisition which was announced on February 20th. The MUZO acquisition marked the Company’s official entrance into the European payments market. For complete details on Global Payments first quarter performance visit CardData ([www.carddata.com]).