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Euronet Worldwide Reports Third Quarter 2013 Financial Results

LEAWOOD, Kan., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. ("Euronet" or the "Company") (Nasdaq:EEFT), a leading electronic payments provider, reports third quarter 2013 financial results.

Euronet reports the following consolidated results for the third quarter 2013 compared with the same period of 2012:
  • Revenues of $360.6 million, a 14% increase from $316.4 million (13% increase on a constant currency (1) basis).
  • Operating income of $55.3 million, a 129% increase from $24.2 million (135% increase on a constant currency basis).
  • Adjusted operating income (2) of $36.0 million, a 49% increase from $24.2 million (45% on a constant currency basis).
  • Adjusted EBITDA (3) of $53.8 million, a 26% increase from $42.6 million (24% increase on a constant currency basis).
  • Net income attributable to Euronet of $47.9 million or $0.92 diluted earnings per share, compared with net income of $14.6 million or $0.28 diluted earnings per share.
  • Adjusted cash earnings per share (4) of $0.56, a 33% increase from $0.42.
  • Transactions of 582 million, a 1% decrease from 589 million.

See the reconciliation of non-GAAP items in the attached financial schedules.

"Our new quarterly record of $0.56 adjusted cash earnings per share, which is 33% growth over last year, is a reflection of our consistent high-quality earnings expansion," stated Michael J. Brown, Chairman and Chief Executive Officer. "Again this quarter, all three segments contributed to this growth. EFT exceeded our expectations achieving a new seasonally high result, driven by value added products and better performing ATMs. Money Transfer results remained strong led by balanced growth from the U.S. and outside the U.S. together with continued network expansion. And, epay delivered another solid quarter generating growth from prepaid mobile products in the U.S. and sales of non-mobile content, particularly in Germany."

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