- Money transfer revenue increased 13 percent over the prior year on both a reported and constant currency basis.
- Money transfer transaction volume increased 14 percent over the prior year, led by:
- 19 percent growth in U.S. outbound sends on the strength of U.S.-to-Mexico corridor
- 16 percent growth in sends originated outside of the U.S.
- 8 percent growth in U.S.-to-U.S. transactions.
- Global agent locations increased 15 percent over the prior year to 327,000.
- Self-service and new channel money transfer revenue grew 24 percent in the quarter, representing 6 percent of money transfer revenue.
- MoneyGram Online money transfer and bill payment transaction volume was up 51 percent and revenue increased 15 percent over the prior year.
- The Company reported EBITDA of $64.7 million, which was impacted by:
- $3.3 million of stock-based and contingent performance compensation
- $1.5 million of severance and related costs
- $0.8 million of legal expenses related to certain ongoing matters.
- Adjusted EBITDA for the second quarter was $70.3 million, up 3 percent on a reported and constant currency basis. In the quarter, adjusted EBITDA margin was 19.3 percent, down from 20.7 percent compared to the same period last year due to an increase in commission expense and compliance costs.
- Diluted income per common share was $0.27, including a negative $0.03 per share impact from stock-based and contingent performance compensation, a negative $0.01 per share impact from severance and related costs and a negative $0.01 per share impact from legal expenses related to certain ongoing matters.
MoneyGram International Reports Second Quarter 2013 Financial Results
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