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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
07/28/201516:03:33Current Report Filing (8-k)
07/28/201516:00:00TSYS Reports Second Quarter Adjusted EPS Grew 29.0%
07/16/201515:59:17Statement of Changes in Beneficial Ownership (4)
07/07/201509:00:00TSYS Extends Relationship with U.S. Bank
06/30/201509:00:00TSYS Extends Relationship with INVEX
06/30/201509:00:00MetaBank®, NetSpend extend relationship with new five-year contract
06/29/201509:00:00TSYS to Broadcast Second-Quarter 2015 Results
06/25/201509:00:00TSYS Research Reveals Canadian Consumers Prefer Credit Cards...
06/25/201509:00:00Une étude TSYS révèle que les consommateurs canadiens préfèrent les...
06/23/201515:28:26Statement of Changes in Beneficial Ownership (4)
06/23/201511:06:00TSYS Firma Acuerdo PRIME 4 con NCB Jamaica
06/17/201509:00:00TSYS Announces Promotion of Keith Pierce to Executive Vice President
06/09/201505:35:00TSYS prend en charge Apple Pay au Royaume-Uni
06/09/201505:35:00TSYS unterstützt Apple Pay in Großbritannien
06/08/201516:00:00TSYS Supports Apple Pay in the U.K.
06/08/201509:00:00TSYS Enhances Card Production in the Migration to Chip Cards
06/05/201512:29:42Statement of Changes in Beneficial Ownership (4)
06/05/201506:52:00TSYS und FICO veröffentlichen einen Bericht über den Aufbau b...
06/05/201502:49:00TSYS et FICO publient un rapport sur la manière dont les institutions...
06/04/201511:00:00TSYS and FICO Release Report on How Financial Institutions Should...

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