DST Systems (DST) Tops Q1 EPS by 19c

DST Systems (NYSE: DST) reported Q1 EPS of $1.45, $0.19 better than the analyst estimate of $1.26. Revenue for the quarter came in at $379.8 million versus the consensus estimate of $380.95 million.

Steve Hooley, Chairman and CEO of DST, said, "We are very pleased with the operating results for the first quarter as well as the completion of our previously announced acquisitions of State Street\'s ownership in both Boston Financial Data Services, Inc. ("BFDS") and International Financial Data Services Limited ("IFDS U.K."). We are confident that the single-operator model for these businesses will allow us to significantly enhance our clients\' experience and improve the execution of our long-term growth strategy."

Mr. Hooley continued, "BFDS currently services approximately one-third of the U.S. Mutual Fund Industry assets utilizing DST's recordkeeping software. The addition of BFDS\' operations will allow us to further engage our clients with additional business process outsourcing service offerings, while driving enhanced quality and leveraging our increased scale."

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