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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
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)
05/20/201609:16:16Specialized Disclosure Report (sd)
05/20/201608:30:00Can These Credit Services Stocks Keep Investors Interested?...
05/19/201616:04:34Statement of Changes in Beneficial Ownership (4)
05/19/201610:14:00TSYS verbessert Möglichkeiten zur Betrugsvermeidung in Echtzeit...
05/19/201609:45:00TSYS optimise les capacités de détection de fraude en temps r...
05/19/201609:00:00TSYS Enhances Real-Time Fraud Capabilities with Machine Learning...
05/16/201609:00:00TSYS Announces EMV Certification of Dejavoo Systems’ Semi-Integrated S...
05/16/201608:03:03Statement of Changes in Beneficial Ownership (4)
05/12/201611:05:07Statement of Changes in Beneficial Ownership (4)
05/12/201611:02:29Statement of Changes in Beneficial Ownership (4)
05/12/201610:58:03Statement of Changes in Beneficial Ownership (4)
05/12/201610:56:00Statement of Changes in Beneficial Ownership (4)
05/12/201610:52:53Statement of Changes in Beneficial Ownership (4)
05/10/201611:17:00TSYS unterzeichnet Vereinbarung mit führender afrikanischer...
05/10/201610:50:00Longtime Green Dot Rival Emerges as Activist Calls for CEO Change
05/10/201610:25:00TSYS signe un contrat avec un important groupe bancaire africain

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