DST Systems Q4 Results Beat View; Board Approves $250 Mln Share Buyback

(RTTNews) - DST Systems, Inc (DST), a provider of information processing and software services, reported net income for the fourth quarter of $84.0 million or $1.97 per share, up from $37.9 million or $0.82 per share in the prior-year period.

Excluding items, adjusted earnings for the latest quarter were $57.0 million or $1.34 per share, compared to $55.0 million or $1.19 per share in the year-ago quarter. On average, five analysts polled by Thomson Reuters expected earnings per share of $1.28 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the quarter grew to $667.3 million from $658.6 million in the same period last year. Of this, operating revenues increased to $500.1 million from $487.0 million in the year-ago period. Analysts had a consensus revenue estimate of $497.18 million.

On January 29, 2014, the company's board of directors authorized a new $250.0 million share repurchase plan and also declared a quarterly cash dividend of $0.30 per share on its common stock.

The dividend is payable on March 14, 2014, to shareholders of record at close of business on February 28, 2014.