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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;

Stock News for Total Systems (TSS)
10/27/201611:16:00TSYS renouvelle son accord de paiement avec Rabobank
10/27/201604:00:00TSYS Renews Payments Agreement with Rabobank
10/26/201617:13:00TSYS signe un accord de paiement avec l'émetteur de premier...
10/26/201616:31:00TSYS unterzeichnet Zahlungsabkommen bei führendem virtuellem...
10/26/201604:00:00TSYS Signs Payments Agreement with Leading Virtual Card Issuer...
10/25/201616:17:20Current Report Filing (8-k)
10/25/201616:15:00TSYS Reports Third Quarter Earnings
10/13/201614:00:00Raintree Systems Partners with TransFirst®
10/13/201609:00:00TransFirst and Raintree Systems Form Payment Solutions Alliance
09/30/201609:00:00TSYS to Broadcast Third-Quarter 2016 Results
09/29/201616:15:00TSYS Announces Resignation of John Shlonsky
09/21/201610:13:06Statement of Changes in Beneficial Ownership (4)
09/21/201610:03:44Amended Statement of Changes in Beneficial Ownership (4/a)
09/14/201615:58:34Statement of Changes in Beneficial Ownership (4)
09/06/201609:00:00TSYS Announces Third-Quarter 2016 Dividend
08/22/201620:55:00TSYS nomme Karim Ahmad chef de produit et de l'innovation au...
08/22/201619:23:00TSYS ernennt Karim Ahmad zum Leiter Global Product and Innovation
08/22/201613:30:00TSYS Names Karim Ahmad Head of Global Product and Innovation
08/18/201606:11:00TSYS verlängert Vertrag über Zahlungsverarbeitung mit Swisscard
08/18/201604:00:00TSYS Extends Payments Agreement with Swisscard

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