TNS 3Q 2012 revenues down 3.9%

TNS, Inc. (NYSE: TNS) said its total revenue for the third quarter of 2012 decreased 3.9% to $137.2 million from third quarter 2011 revenue of $142.7 million. On a constant dollar basis, revenues for the third quarter of 2012 decreased 2.3% to $139.5 million.

Third quarter 2012 GAAP net income was $3.0 million, or $0.12 per share, compared to GAAP net income of $1.6 million, or $0.06 per share, for the third quarter 2011. Included in GAAP net income for the third quarter of 2012 was a pre-tax charge of $2.8 million, or $0.09 per share, for severance.

Adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) for the third quarter of 2012 decreased 5.2% to $34.5 million, or 25.1% of revenue, from $36.4 million, or 25.5% of revenue, for the third quarter of 2011. On a constant dollar basis, adjusted EBITDA for the third quarter of 2012 was $35.5 million, or 25.5% of revenue.

Adjusted earnings decreased 4.7% to $14.9 million, or $0.61 per share, for the third quarter of 2012 compared to adjusted earnings of $15.6 million, or $0.61 per share, for the third quarter of 2011. On a constant dollar basis, adjusted earnings was $15.6 million, or $0.64 per share, for the third quarter 2012.

During the third quarter of 2012, TNS repurchased 161,082 shares of common stock for $2.4 million under its three-year $30 million share repurchase program, of which $27.6 million remains available. TNS also voluntarily paid down $5 million of its Senior Secured Credit Facility during the third quarter of 2012 and made an additional payment of $10 million subsequent to quarter end.

Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 40 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.