Total System Services, Inc. (TSS) Tuesday reported first-quarter profit of $49.30 million or $0.26 per share, down from $57.03 million or $0.31 per share in the same period last year.
Adjusted cash EPS from continuing operations totaled $0.38. On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.43 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 32.1 percent to $592.8 million from $448.79 million last year. Analysts expected revenues of $613.93 million.
Looking ahead to the fiscal year 2014, the company continues to expect adjusted cash EPS in the range of $1.90 to $1.93. Revenues are projected in a range of $2.42 billion to $2.47 billion, down from its previous guidance range of $2.491 billion to $2.542 billion.
Analysts currently expect the company to report full-year earnings of $1.93 per share on revenues of $2.52 billion.
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