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Total System 4Q Profit Drops 22% On Overhead Cost Climb

DOW JONES NEWSWIRES Total System Services Inc.'s (TSS) fourth-quarter earnings rose 22% as the payment-services provider saw a modest revenue increase which, though better than expected, failed to offset higher overhead costs. The company, which makes technologies to support consumer finance credit and debt cards for financial institutions, predicted earnings would be better than analysts were expecting, although its revenue guidance fell short of views. It predicted earnings from continuing operations of $1.09 to $1.11 on revenue of $1.75 billion to $1.79 billion, while analysts were looking for $1.07 and $1.8 billion, respectively, according to a poll by Thomson Reuters. In recent quarters, the company's revenue has begun to grow again, after it struggled in the recession because of weakened consumer spending and numerous bank failures costing it clients. Earlier this month, Credit Suisse analysts Bryan Keane and Ashish Sabadra said the company has "finally begun to turn the corner" after its numerous trials during the downturn, as they upgraded their rating on the firm. Total System Services posted a profit of $47.2 million, or 24 cents a share, from $60.2 million, or 31 cents a share, a year earlier. Revenue increased 1.7% to $440 million. Analysts predicted earnings of 24 cents on revenue of $439 million. Gross margin fell to 29.1% from 31.9%. Overhead costs increased 29%. Total System Services shares were down a penny at $17.52 after hours. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Total Systems (TSS)
DateTimeHeadline
04/28/201607:20:00TSYS veröffentlicht Studie zu Zahlungsverhalten von Verbrauchern...
04/28/201605:00:00TSYS publie une étude sur les paiements des consommateurs allemands...
04/28/201604:00:00TSYS Releases 2016 German Consumer Payments Study
04/26/201616:17:37Current Report Filing (8-k)
04/26/201616:15:00TSYS Reports First Quarter 2016 Adjusted EPS Grew 22.8%
04/25/201609:00:00TSYS Extends Payments Agreement with HealthEquity
04/13/201615:19:08Amended Annual Report (10-k/a)
04/06/201604:00:00Cardholder Alerts Now Available to TSYS Clients in Europe
04/06/201604:00:00Les alertes aux titulaires de carte sont désormais disponibles...
04/06/201604:00:00Warnungen an Karteninhaber jetzt für TSYS-Kunden in Europa verfügbar
04/05/201610:36:00TSYSがトランスファーストの買収を完了
04/05/201609:00:00ProPay Supports Samsung Pay
04/02/201610:52:00TSYS finalise le rachat de TransFirst
04/02/201610:52:00TSYS schließt Übernahme von TransFirst ab
04/01/201616:16:20Current Report Filing (8-k)
04/01/201614:55:00TSYS Completes Acquisition of TransFirst
03/31/201609:00:00TSYS to Broadcast First-Quarter 2016 Results
03/17/201616:46:54Current Report Filing (8-k)
03/17/201609:41:00TSYS gibt Verbraucherzahlungsstudie für Großbritannien 2016 h...
03/17/201609:41:00TSYS publie l'étude sur les paiements des consommateurs du Royaume-Uni...

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