DST Systems 1Q earnings rise on fees from fund processing

DST Systems Inc.'s first-quarter earnings rose as fees from mutual fund shareholder processing edged higher, the provider of information processing and software services said Monday.

DST, whose clients include banks and financial services companies, said net income rose to $72.2 million, or $1.12 per share, from $65.4 million, or 90 cents per share, in the year-ago period.

Adjusted earnings fell to $55.2 million, or 86 cents per share, from $62.6 million, or 87 cents per share, last year. That result fell short of the 92 cents per share expected by analysts, according to Thomson Financial.

Operating revenue rose 1 percent to $430.8 million from $426.2 million last year.