Adjusted EBITDA in the second quarter was up 14% over the same quarter last year. Again excluding the unfavorable impact of foreign exchange translation and incremental international operating losses adjusted EBITDA was up 25% in the second quarter. Adjusted EBITDA margins in the core Canadian operation were very strong and slightly over 29%.Miles issued grew by 8% for the quarter marking six consecutive quarters of growth. In the second quarter, we saw the continuation of the strong start from our credit card sponsors and our fuel sponsor, Shell. In addition, we experienced gains in our grocery category as our sponsors increased their presence of vendor promotions in store. Looking forward, our current momentum and our recent new sponsor signings in specialty retail categories have positioned us well to achieve mid-single digit plus issuance growth for 2012.
Alliance Data Systems' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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