This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EVERTEC Reports Fourth-Quarter And Full-Year 2013 Results

Stocks in this article: EVTC

EVERTEC, Inc. (NYSE:EVTC) (“EVERTEC” or the “Company”) today announced results for the fourth quarter and year ended December 31, 2013.

Fourth-Quarter 2013 Highlights

  • Total revenue of $93.3 million; Merchant Acquiring segment revenue increased 9% and Payment Processing segment revenue increased 6%
  • Adjusted Net Income increased 28% to $35.4 million, or $0.43 per diluted share
  • Repurchased $75 million, or 3.7 million shares of our common stock

Full-Year 2013 Highlights

  • Total revenue increased 5% to $357.2 million
  • Adjusted Net Income increased 44% to $121.3 million, or $1.49 per diluted share
  • Completed successful first year as a public company and made significant progress on several growth initiatives

Commenting on the results, Peter Harrington, EVERTEC’s President and Chief Executive Officer, said: “Our fourth -quarter results cap a great first year for EVERTEC as a public company. The solid financial results we achieved in 2013 are a testament to the value of our diversified business model and reflect the continued execution of our growth plans. In the year ahead, we will remain focused on our growth strategies of continuing to penetrate and gain share in our existing markets; expanding into additional Latin American markets; and seeking to expand our Merchant Acquiring and Payment Processing businesses. We continue to see real opportunities in these areas and remain confident of our ability to grow in a disciplined way.”

Fourth-Quarter 2013 Results

Revenue. Total revenue for the quarter ended December 31, 2013 was $93.3 million, an increase of 3% compared with $91.0 million in the prior year.

Merchant Acquiring net revenue was $19.8 million, an increase of 9% compared with $18.1 million in the prior year. Revenue growth in the quarter was mainly driven by an increase in transaction and sales volumes.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs