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Total Systems Services 3Q Profit Down 17% On Higher Costs

DOW JONES NEWSWIRES Total System Services Inc.'s (TSS) third-quarter profit dropped 17% as revenue edged up but costs jumped. The company raised its forecast for 2010 earnings by 2 cents to a range of 98 cents to $1 a share but cut its revenue target to a range of $1.7 billion to $1.73 billion, from $1.71 billion to $1.75 billion. The payment-services provider, whose technologies support consumer finance and credit and debit cards for financial institutions, has seen revenue increase in recent quarters. It had struggled during the downturn after losing some big customers. It reported third-quarter earnings of $45.7 million, or 23 cents a share, down from $55 million, or 28 cents a share, a year earlier. Revenue edged up 1% to $433.2 million. Analysts polled by Thomson Reuters most recently estimated earnings of 23 cents on $435 million in revenue. Gross margin dipped to 30.1% from 31.3%. Also hurting the bottom line was a 12% increase in overhead costs. Revenue in the North America services segment--by far its largest on that basis--slid 12% while it dipped 1% abroad. Merchant-services revenue jumped 38%. Shares closed at $15.98. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; [email protected]

Stock News for Total Systems (TSS)
DateTimeHeadline
01/19/201717:37:04Statement of Changes in Beneficial Ownership (4)
01/19/201709:00:00TSYS Signs Long-Term Payments Services Agreement with BBVA Compass
01/11/201710:56:10Statement of Changes in Beneficial Ownership (4)
01/09/201708:22:48Statement of Changes in Beneficial Ownership (4)
12/29/201609:00:00TSYS to Broadcast Fourth-Quarter 2016 Results
12/21/201615:25:59Statement of Changes in Beneficial Ownership (4)
12/21/201614:41:43Statement of Changes in Beneficial Ownership (4)
12/21/201614:15:29Statement of Changes in Beneficial Ownership (4)
12/21/201611:46:38Amended Statement of Changes in Beneficial Ownership (4/a)
12/21/201610:34:51Statement of Changes in Beneficial Ownership (4)
12/21/201609:20:41Statement of Changes in Beneficial Ownership (4)
12/16/201614:19:18Statement of Changes in Beneficial Ownership (4)
12/15/201622:31:00TSYS annonce une transition au niveau exécutif
12/15/201619:03:00TSYS kündigt Wechsel auf der Führungsebene an
12/15/201609:30:59Current Report Filing (8-k)
12/15/201609:15:00TSYS Announces Executive Transition
12/06/201616:39:00TSYS erneuert Zahlungsabkommen mit der Advanzia Bank
12/06/201616:39:00TSYS renouvelle son accord de paiement avec Advanzia Bank
12/06/201604:00:00TSYS Renews Payments Agreement with Advanzia Bank
12/02/201609:00:00TSYS Announces Fourth-Quarter 2016 Dividend

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