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Total System Services, Inc. (NYSE:TSS) releases third trimester results

Total System Services, Inc. (NYSE:TSS) has released its income report for the third trimester. The report also included the running report of NetSpend which it had acquired in July this year.

A snapshot of the results compared to the same period last year:

Its total income this year was $588.1 million, which is a rise of 25.6%.  The total income was influenced by a negative currency translation of $6.4 million.

Income before items that were to be paid back was $527.0 million, which was a rise of 29.8. It’s amended EBITDA* was $182.1 million, a rise of 32.1%.

Speaking on the results, Philip W. Tomlinson, chairman and chief executive officer stated “This trimester is the first time when the income of  NetSpend has been included to our total  financial account as a forth operating business. The income was excellent and the rise of 22.2% over what we earned last year in the same period makes it very important for us.” He added further, “ the total cash in our hand remaining is very good and we have used over $60 million to reduce our loans as we go towards our objective of cutting down our debt to EBITDA ratio. We shall continue to use the income to reduce our loans  so that we can use the money to buy other companies and buy back our shares.” The company will host a trimester conference call on Tuesday. People can log into the call at the same time on the internet by going to  tsys.com by clicking on the link under “Webcasts” on the main page. The call will remain in the archives for the next 12 month and a replay can be accesse4d 30 minutes after the call ends. The call will have a slide presentation which can be accessed by going to the webcasts section on the main page of tsys.com.

Published by Van Bettauer

Van Bettauer is a financial aficionado from Vancouver, British Columbia. He currently studies at UBC, pursuing a Bachelors of Science degree. Van has been freelance writing for many years, specializing in copywriting, report writing and article writing. The combination of his scientific studies and writing experience brings a new and fresh perspective to the financial world. Visit Bettauer's Google+ page at the following address: https://plus.google.com/100770875710593766367/posts

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