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    DST beats Wall Street expectations for 4Q earnings

    KANSAS CITY, Mo. (AP) — DST Systems Inc.'s shares rose in trading Tuesday after the data and software services company reported that its fourth-quarter results beat Wall Street expectations.

    The company's net income fell to $41.8 million, or 93 cents per share, from $93.3 million, or $2 per share, in the same quarter a year ago. After adjusting for restructuring, employee termination and other special items affecting the quarters, the company earned $1.05 per share versus $1.07 last year.

    That beat the 96 cents per share that analysts polled by FactSet anticipated.

    Operating revenue rose more than 7 percent to $457.3 million, helped in part by acquisitions. Analysts forecast $437 million.

    For the year the company earned $185.7 million, or $4.01 per share, compared with $318.5 million, or $6.73 per share, in 2010. Annual operating revenue increased almost 2 percent to $1.74 billion.

    DST also announced that its board of directors nominated two new candidates, in addition to an existing third nominee. The company has been looking for new board members since December with the help of an outside executive search firm.

    The company nominated Lowell Bryan, the 66-year old founder of consulting firm LL Bryan Advisory, and Samuel Liss, a 55-year old principal at WhiteGate Partners, for election. Travis Reed, a current director, will serve as the company's third nominee.

    DST board members Thomas McCullough and William Nelson will not stand for reelection. The company's largest shareholder, George Argyros, backed the latest nominees.

    Shares of DST rose $1.44, or 2.8 percent, to $52.19 in afternoon trading.

     

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