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Total System Services Inc., known as TSYS, is reporting a 14.2% drop in net income for the third quarter ended Sept. 30, to $55 million from $64.1 million during the same period last year. The Columbus, Ga.-based transaction processor reported a 1.6% decline in revenue, to $432.3 million from $439.4 million. "We're still facing some currency headwinds as well as the economic crisis," Jimmy Lipham, TSYS senior executive vice president and chief financial officer, said during a conference call with analysts late yesterday afternoon. Card transactions in North America processed by TSYS dropped 7.7%, to 1.56 billion from 1.69 billion during the same period last year. International card transactions processed dropped 10.1%, to 299.7 million from 272.1 million. Merchant point-of-sale transaction volume grew 3.9%, to 1.34 billion from 1.29 billion. The North America Services segment posted $253 million in revenue for the quarter, down 8.8% from $277.3 million a year ago. Revenue from the International Services segment fell 2.2%, to $85.9 million from $87.8 million. Merchant Services revenue grew 25.7%, to $93.4 million from $74.3 million. Revenue in Europe decreased 8.6%, to 70.4 million from $77 million. Revenue in Canada grew 14.8%, to $36.5 million from $31.8 million, and revenue in Japan grew 59.7%, to $11.5 million from $7.2 million. Revenue in Mexico decreased 40%, to $2.1 million from $3.5 million.
