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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
04/17/201513:13:42Barclays Raises Total System Services Price Target to $44.00...
04/14/201509:00:00ProPay® Adds MasterCard® MasterPass™ Checkout Service
04/10/201516:01:43Amended Annual Report (10-k/a)
04/09/201509:00:00ProPay® Syncs with QuickBooks® for Merchants
04/06/201509:00:00Brink’s and NetSpend Launch Brink’s Prepaid MasterCard®
03/31/201512:25:14Statement of Changes in Beneficial Ownership (4)
03/31/201509:00:00ProPay® Announces ProFac Expresssm for Payment Facilitators
03/30/201509:00:00TSYS to Broadcast First-Quarter 2015 Results
03/26/201509:08:03Current Report Filing (8-k)
03/26/201509:00:00TSYS CIO Ken Tye To Retire
03/24/201508:00:00Thousands Voice Concern about CFPB Proposed Rule
03/16/201508:02:50Proxy Statement (definitive) (def 14a)
03/12/201513:03:50Statement of Changes in Beneficial Ownership (4)
03/10/201509:03:00TSYS、エシスフィア・インスティテュートから2015年世界で最も倫理的な企業の1社に選ばれる
03/09/201508:30:00TSYS Named as a 2015 World’s Most Ethical Company by the Ethisphere I...
03/09/201508:30:00TSYS est nommée l’une des sociétés les plus éthiques au monde...
03/09/201508:30:00TSYS vom Ethisphere Institut als eines der ethischsten Unternehmen...
03/09/201508:30:00TSYS indicada como uma das empresas mais éticas do mundo em...
03/03/201514:33:00Statement of Changes in Beneficial Ownership (4)
03/03/201509:00:00TSYS Announces First-Quarter 2015 Dividend

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