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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
12/02/201609:00:00TSYS Announces Fourth-Quarter 2016 Dividend
11/30/201617:26:00TSYS unterzeichnet Vereinbarung mit Virgin Money über Zahlungsabwicklung
11/30/201611:55:00TSYS signe un accord de paiements avec Virgin Money
11/30/201604:00:00TSYS Signs Payments Agreement with Virgin Money
11/28/201616:59:07Statement of Changes in Beneficial Ownership (4)
11/22/201611:00:17Statement of Changes in Beneficial Ownership (4)
11/22/201609:43:59Statement of Changes in Beneficial Ownership (4)
11/22/201609:27:41Statement of Changes in Beneficial Ownership (4)
11/14/201610:14:28Statement of Changes in Beneficial Ownership (4)
11/14/201610:08:50Amended Statement of Changes in Beneficial Ownership (4/a)
11/14/201609:56:40Statement of Changes in Beneficial Ownership (4)
11/10/201616:48:41Current Report Filing (8-k)
11/10/201615:15:00NetSpend Responds to Federal Trade Commission Complaint
11/08/201612:06:56Statement of Changes in Beneficial Ownership (4)
11/04/201616:09:31Quarterly Report (10-q)
11/04/201614:46:04Statement of Changes in Beneficial Ownership (4)
11/04/201614:11:54Statement of Changes in Beneficial Ownership (4)
10/27/201615:25:00TSYS erneuert Zahlungsabkommen mit Rabobank
10/27/201611:16:00TSYS renouvelle son accord de paiement avec Rabobank
10/27/201604:00:00TSYS Renews Payments Agreement with Rabobank

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