VA-based transaction network provider, TNS, reported second quarter revenue of $72.7 million an 11% year-on-year increase, however, the company posted a $900,000 net loss for the quarter, compared to net income of $300,000 in 2Q/05. Following the second quarter report the Company yesterday announced it was ending its investigation of strategic alternatives including a possible sale or buyout by management. The Company also replaced CEO Jack McDonnell as Chairman with John Sponyoe. TNS also said McDonnell will be retiring with a successor named in the coming weeks. McDonnell lead a senior management buyout attempt at $22 per share which was rejected in May. The Company says it will now focus on substantial cost-saving initiatives in an effort to further enhance stockholder value. For complete details on TNS’ second quarter performance visit CardData ([www.carddata.com]).