This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

TNS, Inc. Announces Third Quarter 2011 Financial Results

TNS, Inc. (NYSE: TNS), a leading provider of business-critical, cost-effective data communications services for transaction-oriented applications, today reported its third quarter 2011 results.

Henry H. Graham, Jr., CEO, commented, “Third quarter 2011 was solid for TNS, with revenue and adjusted earnings trends indicating the investments we have made to transform our business for growth are beginning to generate results. Excluding Cequint’s contribution, Telecommunication Services Division revenue again increased from last year and last quarter, and we expanded and strengthened our customer relationships across all tiers of mobile operators, signed customers for newly released products, and benefited from the quarter’s high voice and data volume. Cequint performed in line with expectations, and adoption rates for our suite of wireless caller identification products are tracking well. International growth in our Payments and Financial Services divisions continues, partially offsetting weaker results in North America. We are again raising the lower end of our 2011 outlook range, and remain focused for the remainder of the year on investing for growth in identity and verification, multi-channel payment gateway, and IP registry and wireless solutions.”

TNS acquired Cequint, Inc. (Cequint) on October 1, 2010 and has included its results in those of the Telecommunication Services Division from the date of acquisition. Therefore, 2011 results are not comparable to those of prior periods. On August 31, 2011, the Payments Division disposed of its Canadian ATM processing assets. Revenues and costs associated with this business are presented for all periods as Discontinued Operations in the attached Condensed Consolidated Statements of Operations.

Total revenue for the third quarter of 2011 increased 9.3% to $142.7 million from third quarter 2010 revenue of $130.6 million. On a constant dollar basis, revenues for the third quarter of 2011 increased 6.7% to $139.3 million. Cequint contributed $2.9 million to third quarter 2011 revenue.

Third quarter 2011 GAAP net income decreased to $1.6 million, or $0.06 per share, from third quarter 2010 GAAP net income of $4.0 million, or $0.15 per share. Included in GAAP net income for the third quarter of 2010 was a pre-tax charge of $1.1 million, or $0.02 per share, resulting from accelerated depreciation of certain network assets associated with the CSG integration; $0.7 million, or $0.01 per share, of acquisition costs in accordance with FASB ASC 805 “Business Combinations” related to the Cequint acquisition; and a pre-tax charge associated with severance of $0.3 million, or $0.01 per share. Excluding these items and the related tax effects, third quarter 2010 net income was $5.3 million, or $0.20 per share.

1 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs