Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, reports second quarter 2012 financial results.
Euronet reports the following consolidated results for the second quarter 2012 compared with the same period of 2011:
- Revenues of $302.4 million, an 8% increase from $279.8 million (18% increase on a constant currency (1) basis).
- Operating income of $19.9 million, a 6% increase from $18.8 million (19% increase on a constant currency basis).
- Adjusted EBITDA (2) of $39.0 million, a 4% increase from $37.4 million (16% increase on a constant currency basis).
- Net income attributable to Euronet of $5.7 million or $0.11 diluted earnings per share, compared with net income of $11.9 million or $0.23 diluted earnings per share.
- Adjusted cash earnings per share (3) of $0.39, compared with $0.35.
- Transactions of 570 million, a 13% increase from 503 million.
See the reconciliation of non-GAAP items in the attached financial schedules.
"I am pleased our business delivered very strong second quarter earnings with consolidated constant currency revenue and operating income growth of 18% and 19%, respectively," stated Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "While we are working through challenges in the epay Segment, our EFT and Money Transfer businesses posted exceptionally strong results through their constant currency operating income growth of 29% and 42%, respectively, and are poised for continued growth as we head into the second half of the year."Segment and Other Results The EFT Processing Segment reports the following results for the second quarter 2012 compared with the same period of 2011:
- Revenues of $58.3 million, a 16% increase from $50.4 million (35% increase on a constant currency basis).
- Operating income of $10.3 million, a 12% increase from $9.2 million (29% increase on a constant currency basis).
- Adjusted EBITDA of $16.6 million, a 14% increase from $14.5 million (32% increase on a constant currency basis).
- Transactions of 291 million, a 25% increase from 233 million.
- ATMs operated of 17,048 as of June 30, 2012, a 41% increase from 12,058.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV