DST Systems, Inc. Announces Second Quarter 2010 Financial Results
PR Newswire -- July 27, 2010
KANSAS CITY, Mo., July 27 /PRNewswire-FirstCall/ -- Consolidated net income for DST Systems, Inc. (NYSE: DST) was $94.0 million ($2.00 per diluted share) for second quarter 2010 compared to $48.7 million ($0.97 per diluted share) for second quarter 2009. Consolidated net income for the six months ended June 30, 2010 was $170.9 million ($3.57 per diluted share) compared to $121.9 million ($2.44 per diluted share) for the six months ended June 30, 2009. Taking into account certain non-GAAP adjustments explained herein, consolidated net income was $57.6 million ($1.23 per diluted share) for second quarter 2010 compared to $44.8 million ($0.90 per diluted share) for second quarter 2009, and $111.4 million ($2.33 per diluted share) for the six months ended June 30, 2010 compared to $86.4 million ($1.73 per diluted share) for the six months ended June 30, 2009.
The diluted EPS impact of non-GAAP adjustments for second quarter 2010 is summarized as follows:
Reported GAAP diluted EPS $2.00 Contract termination payment gain, net of related expenses (0.76) Termination benefit expenses related to reductions in workforce 0.04 Net gain on securities and other investments (0.04) Net gain on extinguishment of senior convertible debentures (0.01) Adjusted Non-GAAP diluted EPS $1.23 =====
Second quarter 2010 financial and operational highlights were as follows:
PR Newswire -- July 27, 2010
KANSAS CITY, Mo., July 27 /PRNewswire-FirstCall/ -- Consolidated net income for DST Systems, Inc. (NYSE: DST) was $94.0 million ($2.00 per diluted share) for second quarter 2010 compared to $48.7 million ($0.97 per diluted share) for second quarter 2009. Consolidated net income for the six months ended June 30, 2010 was $170.9 million ($3.57 per diluted share) compared to $121.9 million ($2.44 per diluted share) for the six months ended June 30, 2009. Taking into account certain non-GAAP adjustments explained herein, consolidated net income was $57.6 million ($1.23 per diluted share) for second quarter 2010 compared to $44.8 million ($0.90 per diluted share) for second quarter 2009, and $111.4 million ($2.33 per diluted share) for the six months ended June 30, 2010 compared to $86.4 million ($1.73 per diluted share) for the six months ended June 30, 2009.
The diluted EPS impact of non-GAAP adjustments for second quarter 2010 is summarized as follows:
Reported GAAP diluted EPS $2.00 Contract termination payment gain, net of related expenses (0.76) Termination benefit expenses related to reductions in workforce 0.04 Net gain on securities and other investments (0.04) Net gain on extinguishment of senior convertible debentures (0.01) Adjusted Non-GAAP diluted EPS $1.23 =====
Second quarter 2010 financial and operational highlights were as follows:
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