
Euronet Worldwide Reports First Quarter 2016 Financial Results
LEAWOOD, Kan., April 26, 2016 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. ("Euronet" or the "Company") (NASDAQ:EEFT), a leading electronic payments provider, reports first quarter 2016 financial results.
Euronet reports the following consolidated results for the first quarter 2016 compared with the same period of 2015:
- Revenues of $437.9 million, an 11% increase from $395.2 million (14% increase on a constant currency(1) basis).
- Operating income of $41.9 million, a 30% increase from $32.2 million (34% increase on a constant currency basis).
- Adjusted EBITDA(2) of $64.9 million, a 24% increase from $52.4 million (28% increase on a constant currency basis).
- Net income attributable to Euronet of $29.1 million or $0.53 diluted earnings per share, compared with net income of $7.2 million or $0.13 diluted earnings per share.
- Adjusted cash earnings per share(3) of $0.69, a 23% increase from $0.56.
- Transactions of 711 million, a 12% increase from 634 million.
See the reconciliation of non-GAAP items in the attached financial schedules.
"We had a strong start to 2016, delivering adjusted cash earnings per share growth of 23%, the 13th consecutive quarter we have achieved double-digit adjusted cash EPS growth," stated Michael J. Brown, Euronet's Chairman and Chief Executive Officer. "Each of our three segments delivered constant currency operating income growth as a result of our continued focus on adding more products, more devices and more locations in more countries. Money transfer continued to deliver double-digit organic growth, including growth from Walmart-2-Walmart, as well as from the June 2015 acquisition of IME. EFT achieved growth from continued ATM expansion, and epay benefited from continued increases in sales of non-mobile content."
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