Total System Services Posts Record Earnings, Revenues

Total System Services Inc., the credit card processor controlled by Synovus Financial Corp., boosted fourth-quarter income by 49%, to $14.2 million.

For all of 1996, its net was up 42%, to $39.4 million, while revenues grew 25%, to $312 million. Per-share income rose 4 cents in the quarter, to 11 cents, and 10 cents on the year, to 31 cents.

All the results set records and exceeded the expectations of the company and outside analysts, said chairman and chief executive officer Richard W. Ussery.

Total System is responsible for more than 80 million customer accounts, up from 63 million at yearend 1995. Mr. Ussery said he expects gains in 1997 from further conversions to the TS2 processing system and growth in the joint ventures Vital Processing Services and TSYS de Mexico.

Separately, Total System said that Sam Nunn, the recently retired U.S. senator from Georgia, had joined its board.

Mr. Nunn, a Democrat, served in the Georgia House from 1968 until 1972, when he was elected to the U.S. Senate. He recently joined the Atlanta law firm King & Spaulding and the boards of the Coca-Cola Co., General Electric Co., and National Service Industries.