- Money transfer fee and other revenue increased 12 percent over the prior year, and increased 13 percent on a constant currency basis.
- Money transfer transaction volume increased an impressive 15 percent over the prior year, led by:
- 17 percent growth in sends originated outside of the U.S.
- 15 percent growth in U.S.-to-U.S. transaction volume
- 12 percent growth in U.S. outbound transaction volume on the strength of U.S.-to-Mexico, which grew 19 percent
- Global agent locations increased 18 percent to 275,000, continuing the company’s strong growth momentum in agent network expansion.
- The company reported net income of $10.3 million and EBITDA of $55.0 million. Both net income and EBITDA were impacted by:
- $5.8 million of restructuring and reorganization costs
- $3.6 million of certain legal expenses
- $3.5 million of stock-based compensation
- Adjusted EBITDA for the first quarter increased 13 percent to $68.4 million from $60.3 million in the prior year. Adjusted EBITDA margin in the quarter was 21.5 percent, up from 20.5 percent in the same period last year.
- Diluted income per common share was $0.14, including a negative $0.05 per share impact from restructuring and reorganization costs and $0.03 due to certain legal expenses.
MoneyGram International Reports First Quarter 2012 Financial Results
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