SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
September 16, 1996
(Earliest Event Reported)
Total System Services, Inc.
(Exact Name of Registrant as
Specified in its Charter)
Georgia 1-10254 58-1493818
(State of (Commission File (IRS Employer
Incorporation) Number) Identification
Number)
1200 Sixth Avenue, Columbus, Georgia 31901
(Address of principal executive offices)
(706) 649-2267
(Registrant's Telephone Number)
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On September 16, 1996, Total System Services, Inc. ("Registrant")
announced that it is expected that earnings for 1996 will exceed current
analysts' estimates by approximately 10%.
A copy of Registrant's press release regarding the announcement
referenced above is attached hereto as Exhibit 99, and by this reference made a
part hereof.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Financial Statements - None.
(b) Pro Forma Financial Information - None.
(c) Exhibits
99 - Registrant's press release, September 16, 1996
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, Registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TOTAL SYSTEM SERVICES, INC.
("Registrant")
Dated: September 20, 1996 By:/s/ Kathleen Moates
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Kathleen Moates
Deputy General Counsel
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[TSYS LOGO]
For Immediate Release
Contact: James B. Lipham Patrick A. Reynolds
Chief Financial Officer Director of Investor Relations
(706) 649-2262 (706) 649-4973
TSYS EXPECTS TO EXCEED ANALYSTS' ESTIMATES FOR 1996
Columbus, Ga., September 16, 1996 --Today, at 11:00 a.m., Total System
Services, Inc. (TSYS) (NYSE: "TSS") Chairman of the Board and Chief Executive
Officer Richard W. Ussery will announce at the Donaldson, Lufkin, & Jenrette
Emerging Growth Conference in New York that he expects earnings for 1996 to
exceed current analysts' estimates by approximately 10%.
This forward-looking projection is based on a series of projections and
estimates reflecting greater revenues generated from the conversion of new
customers to TSYS' credit card processing system, the growth of existing
customers' accounts on file, and increased volumes as well as use of ancillary
services, better results for the start up of Vital Processing Services, TSYS'
merchant processing joint venture with Visa(R) U.S.A., and continued
improvements in productivity through better expense control.
Headquartered in Columbus, Ga., TSYS is one of the world's largest
credit, debit and private- label card processing companies, serving card issuing
institutions located throughout the United States, Puerto Rico, Canada and
Mexico, representing more than 76 million cardholder accounts. TSYS provides a
comprehensive on-line system of data processing services marketed as THE TOTAL
SYSTEMSM. The company is an 80.8 percent owned subsidiary of Synovus Financial
Corp. (NYSE- "SNV"), a $8.3 billion asset, multi-financial services company that
also includes 34 banking affiliates in four southeastern states, a full-service
brokerage firm, a comprehensive trust services provider and a mortgage services
company. Synovus' Internet address is http://www.snv.com.
The matters set forth in this news release are forward-looking
statements that are dependent on certain risks and uncertainties including the
financial strength of the economy, particularly the consumers' continued
utilization of credit cards as payment systems and a credit medium, continuing
scheduled conversions of new and existing customers to the company's cardholder
software, the economic viability of the company's joint ventures, and the
continued operational capabilities of the company.
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