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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
03/15/201708:00:06Additional Proxy Soliciting Materials (definitive) (defa14a)
03/15/201707:52:26Proxy Statement (definitive) (def 14a)
03/13/201716:55:00TSYS est nommée l’une des Sociétés les plus éthiques au monde...
03/13/201716:52:00TSYS zum 5. Mal vom Ethisphere Institute als eines der weltweit...
03/13/201708:30:00TSYS Named as a 2017 World’s Most Ethical Company by the Ethisphere I...
03/08/201709:00:00TSYS Announces First-Quarter 2017 Dividend
03/07/201711:30:00TSYS President and COO Pam Joseph Named One of the Most Influential...
03/02/201716:48:19Statement of Changes in Beneficial Ownership (4)
03/02/201716:43:29Statement of Changes in Beneficial Ownership (4)
03/02/201709:00:00Netspend Hires Jeff Johnson to Lead Commercial Prepaid
02/28/201718:41:08Amended Annual Report (10-k/a)
02/24/201706:11:36Annual Report (10-k)
02/21/201708:20:00TSYS Signe un Accord de Paiements avec ibq
02/21/201707:35:34Statement of Changes in Beneficial Ownership (4)
02/21/201707:34:08Statement of Changes in Beneficial Ownership (4)
02/21/201707:32:22Statement of Changes in Beneficial Ownership (4)
02/21/201707:31:27Statement of Changes in Beneficial Ownership (4)
02/21/201707:23:26Statement of Changes in Beneficial Ownership (4)
02/21/201707:19:11Statement of Changes in Beneficial Ownership (4)
02/21/201700:00:00TSYS Signs Payments Agreement with ibq

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