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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;

Stock News for Total Systems (TSS)
07/13/201617:22:30Statement of Changes in Beneficial Ownership (4)
07/13/201617:18:38Statement of Changes in Beneficial Ownership (4)
07/13/201604:00:00TSYS Renews Payments Agreement with Lloyds Banking Group
07/13/201604:00:00TSYS erneuert Zahlungsabkommen mit Lloyds Banking Group
07/13/201604:00:00TSYS renouvelle son accord de paiements avec Lloyds Banking Group
06/30/201609:00:00TSYS to Broadcast Second-Quarter 2016 Results
06/28/201612:30:00TSYS Named to The Civic 50 in 2016
06/23/201610:07:00DealerSocket integrates with ProPay to expand Independent dealers...
06/21/201609:00:00TSYS and Equinox Launch Semi-integrated EMV® Solution for Lodging
06/17/201610:01:01Statement of Changes in Beneficial Ownership (4)
06/14/201610:06:00TSYS erwirbt verbleibende 45 Prozent Beteiligung an TSYS Managed...
06/13/201604:00:00TSYS Acquires Remaining 45-percent Ownership Stake in TSYS Managed...
06/13/201604:00:00TSYS acquiert la participation résiduelle de 45 % dans la joint-venture T...
06/07/201616:15:00TSYS Announces Second-Quarter 2016 Dividend
05/26/201615:06:34Statement of Changes in Beneficial Ownership (4)
05/26/201608:41:58Statement of Changes in Beneficial Ownership (4)
05/23/201609:00:00TSYS Introduces New Innovative Virtual Payment Solution
05/20/201614:40:45Statement of Changes in Beneficial Ownership (4)
05/20/201609:16:16Specialized Disclosure Report (sd)
05/20/201608:30:00Can These Credit Services Stocks Keep Investors Interested?...

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