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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
03/15/201708:00:06Additional Proxy Soliciting Materials (definitive) (defa14a)
03/15/201707:52:26Proxy Statement (definitive) (def 14a)
03/13/201716:55:00TSYS est nommée l’une des Sociétés les plus éthiques au monde...
03/13/201716:52:00TSYS zum 5. Mal vom Ethisphere Institute als eines der weltweit...
03/13/201708:30:00TSYS Named as a 2017 World’s Most Ethical Company by the Ethisphere I...
03/08/201709:00:00TSYS Announces First-Quarter 2017 Dividend
03/07/201711:30:00TSYS President and COO Pam Joseph Named One of the Most Influential...
03/02/201716:48:19Statement of Changes in Beneficial Ownership (4)
03/02/201716:43:29Statement of Changes in Beneficial Ownership (4)
03/02/201709:00:00Netspend Hires Jeff Johnson to Lead Commercial Prepaid
02/28/201718:41:08Amended Annual Report (10-k/a)
02/24/201706:11:36Annual Report (10-k)
02/21/201708:20:00TSYS Signe un Accord de Paiements avec ibq
02/21/201707:35:34Statement of Changes in Beneficial Ownership (4)
02/21/201707:34:08Statement of Changes in Beneficial Ownership (4)
02/21/201707:32:22Statement of Changes in Beneficial Ownership (4)
02/21/201707:31:27Statement of Changes in Beneficial Ownership (4)
02/21/201707:23:26Statement of Changes in Beneficial Ownership (4)
02/21/201707:19:11Statement of Changes in Beneficial Ownership (4)
02/21/201700:00:00TSYS Signs Payments Agreement with ibq

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