As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. Western Union for more than 130 years provides money transfer services to its customers.