This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

EVERTEC Reports First-Quarter 2014 Results

EVERTEC, Inc. (NYSE:EVTC) (“EVERTEC” or the “Company”) today announced results for the first quarter ended March 31, 2014.

First-Quarter 2014 Highlights

  • Total revenue of $87.2 million; Merchant Acquiring segment revenue increased 10% and Payment Processing segment revenue increased 4%.
  • Adjusted EBITDA increased 8% to $45.2 million.
  • Adjusted Net Income increased 16% to $32.0 million, or $0.40 per diluted share.

Peter Harrington, EVERTEC’s President and Chief Executive Officer, commented on the results: “We are pleased with the continued solid performance of our payments businesses in the first quarter of 2014. These results demonstrate strong secular growth in the Latin American markets we serve, our ability to gain share, and our focus on execution. Looking forward, we aim to further penetrate our existing customer base and markets with our broad set of differentiated, value-added services.”

First-Quarter 2014 Results

Revenue. Total revenue for the quarter ended March 31, 2014 was $87.2 million, essentially flat compared with $87.3 million in the prior year.

Merchant Acquiring net revenue was $19.3 million, an increase of 10% compared with $17.5 million in the prior year. Revenue growth in the quarter was predominantly driven by an increase in transaction volumes.

Payment Processing revenue was $25.0 million, an increase of 4% compared with $24.1 million in the prior year. Revenue growth in the quarter was predominantly driven by new customer additions and an increase in accounts on file within our card products business, as well as an increase in POS processing transactions.

Business Solutions revenue was $42.9 million, a decrease of 6% compared with $45.8 million in the prior year. The decrease in Business Solutions revenue was mainly due to a $3.5 million decline in hardware and software product sales in the quarter, partly offset by increased demand for our network and core banking products and services.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!


DOW 18,155.41 +58.51 0.32%
S&P 500 2,102.34 +3.81 0.18%
NASDAQ 4,987.6840 +20.5430 0.41%

Partners Compare Online Brokers

Free Reports

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