TNS, Inc. Announces Third Quarter EPS of $.15

TNS, Inc. TNS today reported its third quarter 2010 results. Total revenue for the third quarter of 2010 decreased 6.3% to $131.2 million from third quarter 2009 revenue of $140.1 million. On a constant dollar basis, revenues for the third quarter of 2010 decreased 5.2% to $132.8 million. Third quarter 2010 GAAP net income increased to $4.0 million, or $0.15 per share, from third quarter 2009 GAAP net income of $3.2 million, or $0.12 per share. Included in GAAP net income for the third quarter of 2010 were: a pre-tax charge of $1.1 million, or $0.02 per share, of accelerated depreciation related to certain network assets associated with the CSG integration; $0.7 million, or $0.01 per share, of acquisition costs in accordance with FASB ASC 805 “Business Combinations” related to the Cequint acquisition; and a pre-tax charge associated with severance of $0.3 million, or $0.01 per share. Included in third quarter 2009 results was a pre-tax charge associated with severance of $1.7 million, or $0.05 per share. Excluding the abovementioned charges, third quarter 2010 GAAP net income was $5.3 million, or $0.20 per share, versus $4.4 million, or $0.17 per share in third quarter 2009. Also included in third quarter 2010 GAAP net income is a $2.7 million loss, or $0.05 per share, primarily related to the revaluation of certain foreign currency denominated assets held by TNS' Irish subsidiary.