News & Events

Quarterly Results Call

 

Quarterly Results Call

DST SYSTEMS, INC. ANNOUNCES SECOND QUARTER 2017 FINANCIAL RESULTS

KANSAS CITY, MO., July 27, 2017 /PRNewswire/ -- DST Systems, Inc. (NYSE: DST) reported consolidated net income attributable to DST of $75.4 million ($1.21 per diluted share) for the second quarter 2017 compared to $53.0 million ($0.79 per diluted share) for the second quarter 2016. Net income attributable to DST for the six months ended June 30, 2017 was $321.8 million ($5.09 per diluted share) compared to $111.1 million ($1.64 per diluted share) for the six months ended June 30, 2016.

Income from continuing operations attributable to DST Systems, Inc. ("DST Earnings"), which excludes discontinued operations, was $73.5 million ($1.18 per diluted share) for the second quarter 2017 compared to $34.3 million ($0.51 per diluted share) for the second quarter 2016. DST Earnings for the six months ended June 30, 2017 was $317.0 million ($5.01 per diluted share) compared to $73.9 million ($1.09 per diluted share) for the six months ended June 30, 2016.

Taking into account certain non-GAAP adjustments, DST Earnings were $47.3 million ($0.76 per diluted share) for the second quarter 2017 compared to $47.6 million ($0.71 per diluted share) for the second quarter 2016, and $93.8 million ($1.49 per diluted share) for the six months ended June 30, 2017 compared to $86.3 million ($1.27 per diluted share) for the six months ended June 30, 2016.

"Our second quarter results demonstrate execution on our organic growth initiatives and reflect the value potential of our acquisitions of Boston Financial Data Services, Inc. ("BFDS") and International Financial Data Services Limited ("IFDS U.K.") in their first full quarter of contribution as wholly-owned businesses. I am encouraged by the hard work and dedication that our teams are putting forth to effectively integrate these businesses and achieve meaningful synergies," said Steve Hooley, Chairman, CEO and President of DST. "We are navigating challenging and competitive markets and uncertain regulatory environments that are pressuring our outlook. We continue to balance our cost structure to ensure we are operating efficiently, however, we also recognize the need to support the growth outlook of our businesses with appropriate resources and investments. We are confident that, with our superior solutions and services and industry-leading position, we can continue to successfully win significant business, support our customers as a leader in our industry and create value for our shareholders."

Please click here to view the Financial Release.

A telephone replay of the call will be available from July 27, 2017, at 10:30 A.M. Central Time through August 3, 2017, at 11:00 P.M. Central Time. The replay number for domestic callers is (800) 585-8367, and for international callers is (404) 537-3406, with the access code of 44054534.

To listen to the live or recorded webcast of the conference call please click the link below and enter your registration information. http://event.on24.com/wcc/r/1453847-1/A878B9FCEBB5957874C08A5FCB7E40EC

The information and comments on this site may include forward-looking statements respecting DST and its businesses. Such information and comments in a website posting are based on DST's views as of the date of such posting, and actual actions or results could differ. There could be a number of factors affecting future actions or results, including those set forth in DST's latest Form 10-Q or 10-K filed with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking comment. DST will not update specific website postings to reflect events that occur after such postings.

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