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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
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
03/02/201516:31:11Statement of Changes in Beneficial Ownership (4)
03/02/201516:28:07Statement of Changes in Beneficial Ownership (4)
03/02/201516:28:07Statement of Changes in Beneficial Ownership (4)
03/02/201516:23:34Statement of Changes in Beneficial Ownership (4)
02/27/201512:00:52Statement of Changes in Beneficial Ownership (4)
02/26/201506:21:38Annual Report (10-k)
02/25/201511:58:12Statement of Changes in Beneficial Ownership (4)
02/23/201511:30:00Phil Tomlinson Receives Lifetime Achievement Award from Technology...

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