Transaction Network Services Inc., a provider of data transport services to leading transaction processing networks, said first- quarter net income rose 50%, to $1.5 million, or 12 cents a share, as revenue rose 38%, to $18.1 million.

The point-of-services division contributed $11 million of the revenue, up 17% from a year earlier, as transaction volume increased 15%, to $599 million. Average daily transactions rose to 6.7 million, from 5.8 million.

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