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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
11/15/201309:10:28Caxton Associates LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:10:28Caxton Associates LP 3Q 13F: Largest Purchases
11/15/201309:10:27Caxton Associates LP 3Q 13F: Holdings As Of Sep 30
11/15/201307:10:27AQR Capital Management 3Q 13F: Largest Purchases -2-
11/15/201307:10:23AQR Capital Management 3Q 13F: Largest Sales
11/15/201306:57:24Millennium Management 3Q 13F: Holdings As Of Sep -2-
11/15/201306:57:23Millennium Management 3Q 13F: Holdings As Of Sep 30
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07/26/201117:19:39Total System 2Q Net Up 8.1% On International Services Sales
04/26/201116:47:05Total System 1Q Profit Slips 4.9% On North American Weakness
01/25/201117:07:23Total System 4Q Profit Drops 22% On Overhead Cost Climb
10/20/201016:52:34Total Systems Services 3Q Profit Down 17% On Higher Costs

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