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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; matthew.jarzemsky@dowjones.com

Stock News for Total Systems (TSS)
DateTimeHeadline
02/12/201609:32:47Amended Statement of Ownership (sc 13g/a)
02/10/201616:23:39Amended Statement of Ownership (sc 13g/a)
02/10/201609:00:00TSYS to Present at the KBW Cards, Payments & Financial Technology...
02/09/201616:36:20Amended Statement of Ownership (sc 13g/a)
02/04/201610:25:20Statement of Changes in Beneficial Ownership (4)
02/04/201610:22:04Statement of Changes in Beneficial Ownership (4)
02/04/201610:17:21Statement of Changes in Beneficial Ownership (4)
02/04/201610:13:41Statement of Changes in Beneficial Ownership (4)
02/04/201610:08:39Statement of Changes in Beneficial Ownership (4)
02/04/201610:05:30Statement of Changes in Beneficial Ownership (4)
02/04/201607:48:46Statement of Changes in Beneficial Ownership (4)
02/02/201608:55:00TSYSがトランスファーストを買収して、加盟店ソリューションでリーダーとしての立場を確立
02/02/201608:00:48Statement of Changes in Beneficial Ownership (4)
02/01/201613:17:17Statement of Changes in Beneficial Ownership (4)
02/01/201613:13:48Statement of Changes in Beneficial Ownership (4)
02/01/201613:09:57Statement of Changes in Beneficial Ownership (4)
02/01/201613:07:11Statement of Changes in Beneficial Ownership (4)
02/01/201613:04:03Statement of Changes in Beneficial Ownership (4)
01/29/201616:16:01Statement of Changes in Beneficial Ownership (4)
01/29/201614:38:12Statement of Changes in Beneficial Ownership (4)

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