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Total System 1Q Profit Slips 4.9% On North American Weakness

DOW JONES NEWSWIRES Total System Services Inc.'s (TSS) first-quarter profit edged down 4.9% as its main North American segment continued to lag behind faster-growing international and merchant services segments. Revenue grew slightly faster than forecast. Total Systems, which makes technologies to support consumer finance credit and debit cards for financial institutions, has benefited from slightly improved consumer spending trends of late. A Credit Suisse analysis said momentum continues to build for the company to show a recovery in the second half as new portfolios come online. The company in January bought the remaining minority interest in First National Merchant Solutions LLC, a joint-venture direct merchant acquirer and transaction processor with First National Bank of Omaha. Total System said the business, rebranded TSYS Merchant Solutions, will help it pursue its diversification strategy. Total System posted a first-quarter profit of $48.8 million, or 25 cents a share, down from $51.3 million, or 26 cents a share, a year earlier. Revenue grew 3.9%, to $429.4 million. Analysts polled by Thomson Reuters expected a profit of 25 cents on revenue of $423 million. Revenue for North American services declined 9.3%, to $230.6 million, while international services revenue rose 14%, to $90.7 million, and merchant services sales surged 33%, to $115.8 million. Shares edged up 0.2%, to $19.10 in after-hours trading. The stock has gained 15% over the past 12 months through the close. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

Stock News for Total Systems (TSS)
DateTimeHeadline
01/19/201717:37:04Statement of Changes in Beneficial Ownership (4)
01/19/201709:00:00TSYS Signs Long-Term Payments Services Agreement with BBVA Compass
01/11/201710:56:10Statement of Changes in Beneficial Ownership (4)
01/09/201708:22:48Statement of Changes in Beneficial Ownership (4)
12/29/201609:00:00TSYS to Broadcast Fourth-Quarter 2016 Results
12/21/201615:25:59Statement of Changes in Beneficial Ownership (4)
12/21/201614:41:43Statement of Changes in Beneficial Ownership (4)
12/21/201614:15:29Statement of Changes in Beneficial Ownership (4)
12/21/201611:46:38Amended Statement of Changes in Beneficial Ownership (4/a)
12/21/201610:34:51Statement of Changes in Beneficial Ownership (4)
12/21/201609:20:41Statement of Changes in Beneficial Ownership (4)
12/16/201614:19:18Statement of Changes in Beneficial Ownership (4)
12/15/201622:31:00TSYS annonce une transition au niveau exécutif
12/15/201619:03:00TSYS kündigt Wechsel auf der Führungsebene an
12/15/201609:30:59Current Report Filing (8-k)
12/15/201609:15:00TSYS Announces Executive Transition
12/06/201616:39:00TSYS erneuert Zahlungsabkommen mit der Advanzia Bank
12/06/201616:39:00TSYS renouvelle son accord de paiement avec Advanzia Bank
12/06/201604:00:00TSYS Renews Payments Agreement with Advanzia Bank
12/02/201609:00:00TSYS Announces Fourth-Quarter 2016 Dividend

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