Alliance Data Systems Corp. (NYSE: ADS) last week reported third quarter net income of $29.1 million, down more than 40 percent from $48.8 million in the third quarter of 2006. Operating expenses rose to $509 million compared with $417.4 million a year ago.
Profits were impacted by merger costs, compensation tied to stock awards and non-cash asset write downs, Alliance Data reported. An affiliate of the Blackstone Group is on schedule to purchase Alliance Data for $6.4 billion with plans to close on the deal in the fourth quarter.
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