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 COLUMBUS, Ga., Jan. 11 /PRNewswire/ -- Total System Services, Inc. (NYSE: TSS), the Columbus-based bankcard data processing company, today announced record revenues and net income for the three months and year ended Dec. 31, 1993.
 Net income for the fourth quarter of 1993 increased 12.2% to $6,336,152, or $.20 per share, up from $5,647,747, or $.18 per share, for the same period last year. Revenues for the fourth quarter of 1993 were $41.2 million, an increase of 16.6%, compared with revenues of $35.3 million reported for the fourth quarter of 1992.
 Net income for 1993 increased 15.1% to $20,223,061, or $.63 per share, up from $17,568,955, or $.55 per share last year. Revenues for the year were $152.1 million, an increase of 17.3%, compared with revenues of $129.7 million reported for 1992.
 Commenting on the company's performance, Richard W. Ussery, chairman of the board and chief executive officer of TSYS, stated: "We are very pleased with our strong performance in 1993. It was an excellent year for TSYS in every respect. Our accomplishments in 1993 included a new, 7-year card processing contract with AT&T Universal Card Services and significant growth in cardholder accounts processed from 28 to 32 million. Our agenda for the coming year promises to be our most challenging ever and will include a major concentration of our resources in converting our current customer base to our newly developed software, TS2. Our efforts will also be focused on our Mexican joint venture and we will continue our work to successfully complete negotiations for a definitive card processing agreement with Bank of America. 1994 will be a transitional year in which we ramp up our investment in people and equipment in order to facilitate conversions and posture ourselves for continued, strong growth. We look forward to the many challenges before us with confidence and anticipate a good year in 1994."
 TSYS is the second largest credit card and private label transaction processing company in the world. The company is based in Columbus and provides credit car institutions with a comprehensive on-line system of data processing services marketed as THE TOTAL SYSTEM(sm). TSYS serves 114 credit card issuers in 34 states, Puerto Rico and Canada, representing 35.5 million cardholders and 269,000 merchant accounts. TSYS also provides correspondence products, fulfillment services, direct marketing and promotional services, directly or through its two subsidiaries, Mailtek, Inc., in Atlanta and Lincoln Marketing, Inc. in Moorestown, N.J., to financial institutions, airlines, health care organizations and other businesses, representing over 20 million customers. TSYS is an 80.8% owned subsidiary of Synovus Financial Corp. (NYSE: SNV), a $5.6 billion multi-financial services company composed of TSYS, 31 banking affiliates in three states and a full-service brokerage firm.
 Financial Highlights
 (In thousands, except per-share data)
 3 months ended 12/31/93 12/31/92 Pct. inc.
 Revenues $ 41,191 $ 35,321 16.6
 Expenses 31,098 26,224 18.6
 Operating income 10,093 9,097 11.0
 Other income (deductions) 191 (67) nm
 Income before income taxes 10,284 9,030 13.9
 Income taxes 3,948 3,382 16.7
 Net income $ 6,336 $ 5,648 12.2
 Net income per share $ .20 $ .18 11.2
 Average shares outstanding 32,202,820 32,202,820
 12 months ended 12/31/93 12/31/92 Pct. inc.
 Revenues $ 152,074 $129,663 17.3
 Expenses 119,459 100,641 18.7
 Operating income 32,615 29,022 12.4
 Other income (deductions) 255 (964) nm
 Income before income taxes 32,870 28,058 17.2
 Income taxes 12,647 10,489 20.6
 Net income $ 20,223 $ 17,569 15.1
 Net income per share $ .63 $ .55 14.5
 Average shares outstanding 32,202,820 32,026,668
 nm -- not meaningful
 -0- 1/11/94
 /CONTACT: Kenneth E. Evans, vice chairman of the board, 706-649-4457, or James B. Lipham, chief financial officer, 706-649-2262, both of TSYS/

CO: Total System Services, Inc. ST: Georgia IN: FIN SU: ERN

JS-BR -- AT005 -- 0922 01/11/94 10:40 EST
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Publication:PR Newswire
Date:Jan 11, 1994

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