DST Systems reports increased third-quarter profit

DST Systems Inc., a Kansas City based data processing and technology company, on Thursday reported third-quarter earnings of $100 million, up from $96.9 million in the same quarter last year.

DST’s $100 million profit, equal to $2.51 a share, included proceeds from selling stock, real estate and other assets not tied to the company’s data processing and other businesses. Revenues were $679.5 million in the quarter, up 4.2 percent from a year ago.

The company also recently laid off 150 employees across four locations, including offices in Kansas City and Jefferson City. The cutbacks came in its financial services and customer communications operations. The moves will save between $13 million and $15 million a year before taxes, DST said.

Read more from the Kansas City Star


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