Global Funds Transfer Segment ResultsTotal revenue for the Global Funds Transfer segment was $317.9 million, up 6 percent from $298.9 million in the third quarter of 2011. The segment reported operating income of $39.3 million and operating margin of 12.4 percent. Adjusted operating margin was 14.2 percent in the quarter, down from 16.4 percent in the prior year as a result of increased marketing spend and a lower euro valuation to the U.S. dollar. The increase in marketing was a planned shift in spend from the fourth quarter to the third quarter to take advantage of certain seasonal and global campaigns. For the full year, the Company still expects total marketing spend of approximately 4.5 percent of total revenue.
MoneyGram International Reports Third Quarter 2012 Financial Results
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