Euronet Worldwide Reports Second Quarter 2010
Financial Results
July 27, 2010 07:20 PM Eastern Daylight Time
LEAWOOD, Kan.--(EON: Enhanced Online News)--Euronet Worldwide, Inc. (“Euronet” or the “Company”)
(NASDAQ: EEFT), a leading electronic payments provider, today announced its second quarter 2010 financial
results.
Euronet's consolidated second quarter 2010 financial highlights included:
l Revenues of $244.2 million, compared to $248.6 million for the second quarter 2009.
l Operating income of $16.5 million, compared to $18.0 million for the second quarter 2009.
l Adjusted EBITDA(1) of $32.6 million, compared to $33.7 million for the second quarter 2009.
l Net loss of $1.5 million, or $0.03 diluted loss per share, compared to net income of $15.6 million, or $0.30
diluted earnings per share, for the second quarter 2009.
l Adjusted cash earnings per share(2) of $0.30, compared to $0.30 for the second quarter 2009.
l Transactions of 406.4 million, compared to 373.0 million for the second quarter 2009.
See the reconciliation of non-GAAP items in the attached supplemental data.
“Cash earnings per share of $0.30 matches that of last year’s second quarter results and is particularly noteworthy
given the lower Poland interchange fees that took effect in the second quarter,” said Euronet’s Chairman and Chief
Executive Officer, Mike Brown. “Foreign exchange rates have fluctuated significantly since April 2010, reducing our
cash earnings per share by more than one cent per share compared to our guidance for the quarter. Aside from the
lower interchange fees in Poland, the Company’s EFT Segment delivered solid results and the Money Transfer
Segment benefited from its global expansion in new markets and payout corridors, resulting in a 56% increase in
operating income year-over-year. However, the epay segment experienced additional challenges as a result of
continued global economic pressures.”
Although foreign currency exchange rates fluctuated significantly between the first and