LEAWOOD, Kan., Oct. 18, 2018 (GLOBE NEWSWIRE) — Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a arch cyberbanking payments provider, letters third division 2018 banking results.
Euronet letters the afterward circumscribed after-effects for the third division 2018 compared with the aforementioned aeon of 2017:
“We delivered aberrant third division results, accent by adapted EPS of $2.16, a 34% year-over-year increase,” declared Michael J. Brown, Euronet’s Chairman and Chief Executive Officer. “This able advance included contributions from all three segments. EFT and Money Alteration connected to bear double-digit connected bill acquirement and operating assets growth, while continuing to advance for approaching expansion. And, epay connected to abound non-mobile to account assertive adaptable declines.”
See the adaptation of non-GAAP items in the absorbed banking schedules.
Segment and Added Results
The EFT Processing Articulation letters the afterward after-effects for the third division 2018 compared with the aforementioned aeon or date in 2017:
Double-digit third division connected bill revenue, operating assets and adapted EBITDA advance was abundantly the aftereffect of a 10% year-over-year access in alive ATMs and a 16% access in transactions. The access in affairs was primarily from advance in Europe and India – including an access in the cardinal of bulk added transactions, such as activating bill conversion, calm and all-embracing surcharge, and adopted bill dispensing affairs – on both ATMs and point-of-sale terminals.
The year-over-year access in ATM calculation was due to the deployment of about 3,250 high-value ATMs beyond Europe and India, the accession of about 400 Easycash ATMs in Ireland and about 160 ATMs beneath our low-margin agreements in India.
The epay Articulation letters the afterward after-effects for the third division 2018 compared with the aforementioned aeon or date in 2017:
In January 2018, the Company prospectively adopted the anew appropriate Generally Accepted Accounting Principle accepted ASC 606, and as a aftereffect now letters assertive revenues in the epay articulation on a net base rather than a gross base as done in above-mentioned years. Had epay not adopted ASC 606, revenues would accept been about $16.4 actor greater on a appear base or 10% appear growth, and $17.3 actor greater on a connected bill basis, or 12% connected bill growth, with no appulse on gross profit.
Adjusted for the acceptance of the acquirement acceptance standard, epay third division connected bill revenue, operating assets and adapted EBITDA advance was primarily the aftereffect of added sales of non-mobile products, partially account by assertive adaptable transaction declines. Operating assets additionally benefited from assertive abstract assets acceptable absolutely amortized in backward 2017. Consistent with antecedent quarters, the 3% abatement in affairs was abundantly the aftereffect of the accident of a high-volume, low-margin adaptable chump in the Middle East.
The Money Alteration Articulation letters the afterward after-effects for the third division 2018 compared with the aforementioned aeon or date in 2017:
Double-digit connected bill revenue, operating assets and adapted EBITDA advance was apprenticed by able advance beyond all sectors of the money alteration business, including both concrete and agenda transfers.
Third division money transfers grew 16% and non-transfer transactions, such as bill barter and analysis cashing, grew 22%, consistent in absolute transaction advance of 16%.
Corporate and Added letters $10.2 actor of bulk for the third division 2018 compared with $9.9 actor for the third division 2017. Added accumulated bulk on an adapted base is abundantly due to added concise advantage bulk based on Company performance.
Balance Sheet and Banking Position
Unrestricted banknote on duke was $1.13 billion as of September 30, 2018, compared to $1.16 billion as of June 30, 2018. Blaster repayments, claim of the appellation accommodation and adjustment timing in the business were abundantly account by banknote generated from operations.
Total acknowledgment was $889 actor as of September 30, 2018, compared to $1.01 billion as of June 30, 2018. Debt decreased primarily as a aftereffect of blaster repayments due to lower melancholia ATM banknote requirements at the end of the third division and claim of the Company’s appellation loan.
GuidanceThe Company currently expects adapted balance per allotment for the fourth division 2018, d adopted bill barter ante and the Company’s allotment bulk abide abiding through the end of the quarter, to be about $1.27.
Non-GAAP MeasuresIn accession to the after-effects presented in accordance with U.S. GAAP, the Company presents non-GAAP banking measures, such as connected bill banking measures, adapted operating income, adapted EBITDA and adapted balance per share. These measures should be acclimated in accession to, and not a acting for, revenues, net income, operating assets and balance per allotment computed in accordance with U.S. GAAP. We accept that these non-GAAP measures accommodate advantageous advice to investors apropos the Company’s achievement and all-embracing after-effects of operations. These non-GAAP measures are additionally an basic allotment of the Company’s centralized advertisement and achievement appraisal for admiral and chief management. The non-GAAP measures acclimated by the Company may not be commensurable to analogously blue-blooded non-GAAP measures acclimated by added companies. The absorbed schedules accommodate a abounding adaptation of these non-GAAP banking measures to their best anon commensurable U.S. GAAP banking measure.
The Company does not accommodate a adaptation of its advanced non-GAAP measures to GAAP due to the inherent adversity in forecasting and quantifying assertive amounts that are all-important for GAAP and the accompanying GAAP to non-GAAP reconciliation, including adjustments that would be all-important for bill barter bulk fluctuations and added accuse reflected in the Company’s adaptation of celebrated numbers, the bulk of which, based on absolute experience, could be significant.
(1) Connected bill banking measures are computed as if adopted bill barter ante did not change from the above-mentioned period. This advice is provided to allegorize the appulse of changes in adopted bill barter ante on the Company’s after-effects back compared to the above-mentioned period.
(2) Adapted operating assets is authentic as operating assets excluding costs accompanying to the 2017 proposed MoneyGram accession and crime charges.
(3) Adapted EBITDA is authentic as net assets excluding interest, assets tax expense, depreciation, amortization, share-based compensation, costs accompanying to the 2017 proposed MoneyGram acquisition, crime charges, and added non-operating or non-recurring items that are advised costs or assets beneath U.S. GAAP. Adapted EBITDA represents a achievement admeasurement and is not advised to represent a clamminess measure.
(4) Adapted balance per allotment is authentic as adulterated U.S. GAAP balance per allotment excluding, to the admeasurement incurred in the period, the tax-effected impacts of: a) adopted bill barter assets or losses, b) amicableness and abstract asset crime charges, c) assets or losses from the aboriginal retirement of debt, d) share-based compensation, e) acquired abstract asset amortization, f) costs accompanying to the 2017 proposed MoneyGram acquisition, g) non-cash absorption expense, h) non-cash assets tax expense, i) assertive impacts of the tax ameliorate legislation anesthetized in 2017, and j) added non-operating or non-recurring items. Adapted balance per allotment represents a achievement admeasurement and is not advised to represent a clamminess measure.
Conference Alarm and Slide PresentationEuronet Common will host an analyst appointment alarm on October 19, 2018, at 9:00 a.m. Eastern Time to altercate these results. The alarm may additionally accommodate altercation of Company developments, advanced advice and added absolute advice about business and banking matters. To accept to the alarm via telephone, punch 877-303-6313 (USA) or 1-631-813-4734 (outside the USA). The appointment alarm will additionally be accessible via webcast at http://ir.euronetworldwide.com. Participants should go to the website at atomic bristles account above-mentioned to the appointed alpha time of the accident to register. A slideshow will be included in the webcast.
A webcast epitomize will be accessible alpha about one hour afterwards the accident at http://ir.euronetworldwide.com and will abide accessible for one year.
About Euronet Worldwide, Inc.Euronet Common is an industry baton in processing defended cyberbanking banking transactions. The Company offers acquittal and transaction processing solutions to banking institutions, retailers, account providers and alone consumers. These casework accommodate absolute ATM, POS and agenda outsourcing services, agenda arising and merchant accepting services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money alteration services, and cyberbanking administration of prepaid adaptable buzz time and added prepaid products.
Euronet’s all-around acquittal arrangement is all-encompassing – including 41,902 ATMs, about 279,000 EFT POS terminals and a growing portfolio of outsourced debit and acclaim agenda casework which are beneath administration in 53 countries; agenda software solutions; a prepaid processing arrangement of about 687,000 POS terminals at about 334,000 banker locations in 45 countries; and a all-around money alteration arrangement of about 361,000 locations confined 149 countries. With accumulated address in Leawood, Kansas, USA, and 62 common offices, Euronet serves audience in about 160 countries. For added information, amuse appointment the Company’s website at www.euronetworldwide.com.
Statements independent in this account absolution that affair Euronet’s or its management’s intentions, expectations, or predictions of approaching performance, are advanced statements. Euronet’s absolute after-effects may alter materially from those advancing in such advanced statements as a aftereffect of a cardinal of factors, including: altitude in apple banking markets and accepted bread-and-er conditions, including the furnishings in Europe of the Brexit vote and bread-and-er altitude in specific countries or regions; the furnishings of demonetization in India; abstruse developments affecting the bazaar for the Company’s articles and services; adopted bill barter bulk fluctuations; the furnishings of any breaches in the aegis of our computer systems or those of our barter or vendors; the Company’s adeptness to renew absolute affairs at assisting rates; changes in fees payable for affairs performed for cards address all-embracing logos or over switching networks such as agenda affairs on ATMs; Visa’s appear aphorism change to acquiesce our ATMs to accommodate activating bill about-face alpha mid-April of aing year; changes in the Company’s accord with, or in fees answerable by, the Company’s business partners; competition; the aftereffect of claims and added accident contingencies affecting the Company; and changes in laws and regulations affecting the Company’s business, including tax and clearing laws. These risks and added risks are declared in the Company’s filings with the Securities and Barter Commission, including our Annual Report on Form 10-K, Quarterly Letters on Form 10-Q and Accepted Letters on Form 8-K. Copies of these filings may be acquired via the SEC’s Edgar website or by contacting the Company or the SEC. Any advanced statements fabricated in this absolution allege alone as of the date of this release. Except as may be appropriate by law, Euronet does not intend to amend these advanced statements and undertakes no assignment to any being to accommodate any such amend beneath any circumstances. The Company consistently posts important advice to the broker relations area of its website.
(1) Adapted operating assets excludes costs accompanying to the proposed accession of MoneyGram and is a non-GAAP admeasurement that should be advised in accession to, and not a acting for, net assets computed in accordance with U.S. GAAP.
(2) Adapted EBITDA is a non-GAAP admeasurement that should be advised in accession to, and not a acting for, net assets computed in accordance with U.S. GAAP.
(1) Abstract asset acquittal of $5.6 actor and $6.2 actor are included in abrasion and acquittal bulk of $26.5 actor and $24.7 actor for the three months concluded September 30, 2018 and September 30, 2017, respectively, in the circumscribed statements of income.
(2) Share-based advantage of $4.0 actor and $3.7 actor are included in salaries and allowances bulk of $93.1 actor and $82.1 actor for the three months concluded September 30, 2018 and September 30, 2017, respectively, in the circumscribed statements of income.
(3) Costs incurred for the proposed accession of MoneyGram of $0.1 actor are included in the selling, accepted and authoritative costs of $49.3 actor for the three months concluded September 30, 2017, in the circumscribed statements of income.
(4) Non-cash absorption accession of $2.9 actor and $2.8 actor are included in absorption bulk of $11.4 actor and $9.5 actor for the three months concluded September 30, 2018 and September 30, 2017, respectively, in the circumscribed statements of income.
(5) Adjustment is the accumulated U.S. GAAP assets tax aftereffect on the above-mentioned adjustments bent by applying the applicative approved U.S. federal, accompaniment and/or adopted assets tax rates.
(6) Adjustment is the banknote tax appulse accustomed on assertive items such as the appliance of assertive absolute net deferred tax assets and acquittal of indefinite-lived abstract assets. Additionally, during the three months concluded September 30, 2017, the Company accustomed a U.S. GAAP assets tax account accompanying to the absolution of a $16.3 actor appraisal allowance on assertive adopted net deferred tax assets and removed the aftereffect from adapted balance per allotment for those allowances that will not be accomplished in banknote during the accepted period.
(7) Adapted balance and adapted balance per allotment are non-GAAP measures that should be advised in accession to, and not as a acting for, net assets and balance per allotment computed in accordance with U.S. GAAP.
Contact:Euronet Worldwide, Inc. Stephanie Taylor 1-913-327-4200
12 Annual Credit Report Form That Had Gone Way Too Far | Annual Credit Report Form – annual credit report form
| Welcome to be able to the blog, on this time I am going to teach you regarding annual credit report form