Euronet Worldwide Q2 net income slips

Sat. August 02, 2008; Posted: 08:30 AM

Aug 02, 2008 (Datamonitor via COMTEX) -- EEFT | Quote | Chart | News | PowerRating -- Euronet Worldwide, an electronic payments provider, has reported net income of $7.8 million, or $0.15 diluted earnings per share, in the second quarter of 2008, compared to net income of $8.5 million, or $0.17 diluted earnings per share, reported for the same period of 2007.

For the second quarter of 2008, the company's consolidated revenues increased to $264.5 million from $233.4 million for the second quarter of 2007. Adjusted EBITDA increased to $34.6 million, compared to $29.9 million for the second quarter of 2007.

The electronic fund transfer processing segment has reported revenues of $52.4 million in the second quarter of 2008, compared to $42 million for the same period of 2007; adjusted EBITDA of $14 million for the second quarter of 2008, compared to $12.7 million for the second quarter of 2007; and operating income of $9 million, compared to $8.7 million for the second quarter of 2007.

The prepaid processing segment has experienced total revenues of $152.6 million in the second quarter of 2008, compared to $142.2 million for the second quarter of 2007; adjusted EBITDA of $15.6 million for the second quarter of 2008, compared to $13.7 million in the same period of 2007; and operating income of $11.4 million for the second quarter of 2008, compared to $9.8 million for the second quarter of 2007.

The money transfer segment of Euronet has reported net revenues of $59.5 million, compared to $49.2 million for the second quarter of 2007 and adjusted EBITDA of $7.7 million for the second quarter of 2008, compared to $6.2 million for the corresponding period of 2007.

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For full details on Euronet Worldwide Inc (EEFT) click here. Euronet Worldwide Inc (EEFT) has Short Term PowerRatings of 6. Details on Euronet Worldwide Inc (EEFT) Short Term PowerRatings is available at This Link.

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