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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;

Stock News for Total Systems (TSS)
07/26/201616:18:24Current Report Filing (8-k)
07/26/201616:15:00TSYS Reports Second Quarter Earnings Including TransFirst
07/13/201617:22:30Statement of Changes in Beneficial Ownership (4)
07/13/201617:18:38Statement of Changes in Beneficial Ownership (4)
07/13/201604:00:00TSYS Renews Payments Agreement with Lloyds Banking Group
07/13/201604:00:00TSYS erneuert Zahlungsabkommen mit Lloyds Banking Group
07/13/201604:00:00TSYS renouvelle son accord de paiements avec Lloyds Banking Group
06/30/201609:00:00TSYS to Broadcast Second-Quarter 2016 Results
06/28/201612:30:00TSYS Named to The Civic 50 in 2016
06/23/201610:07:00DealerSocket integrates with ProPay to expand Independent dealers...
06/21/201609:00:00TSYS and Equinox Launch Semi-integrated EMV® Solution for Lodging
06/17/201610:01:01Statement of Changes in Beneficial Ownership (4)
06/14/201610:06:00TSYS erwirbt verbleibende 45 Prozent Beteiligung an TSYS Managed...
06/13/201604:00:00TSYS Acquires Remaining 45-percent Ownership Stake in TSYS Managed...
06/13/201604:00:00TSYS acquiert la participation résiduelle de 45 % dans la joint-venture T...
06/07/201616:15:00TSYS Announces Second-Quarter 2016 Dividend
05/26/201615:06:34Statement of Changes in Beneficial Ownership (4)
05/26/201608:41:58Statement of Changes in Beneficial Ownership (4)
05/23/201609:00:00TSYS Introduces New Innovative Virtual Payment Solution
05/20/201614:40:45Statement of Changes in Beneficial Ownership (4)

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