LEAWOOD, Kan. - Euronet Worldwide Inc. announced in a news release Feb. 22 that its full-year revenue increased 39 percent in 2005, from $381.1 million to $531.2 million.
Net income for the year also increased, up 33 percent from $18.4 million, or 55 cents per share, in '04 to $27.4 million, or 74 cents per share.
The fourth quarter, which ended Dec. 31, also showed improvement.
Revenue for the quarter hit $144.3 million, up 28 percent from $133.1 million in 4Q '04. And net income for the quarter almost doubled from last year, from $4.8 million, or 14 cents per share, to $8.5 million, or 22 cents per share.
Most of the company's revenue growth came from the EFT processing segment, which reflected a 26 percent increase in the number of ATMs it manages. Rounding out the company's first full year of ATM outsourcing in India, Romania and Poland also contributed to the growth.
Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, U.K., Greece, Romania, Slovakia, Albania, Serbia, Montenegro, India and China.
The company closed the year with 7,211 owned or operated ATMs, up from 5,742 at the end of '04.
In '05, it processed 361 million transactions, up from 232 million last year. Of those transactions, 103 million transacted during 4Q, up from 73.4 million during the same period last year.
Euronet's Prepaid Processing segment also reported significant increases. Annual revenue jumped 42 percent, from $289.8 million in '04 to $411.3 million. Fourth-quarter earnings for the segment increased 30 percent, from $85.9 million in '04 to $11.7 million.
Prepaid processing growth resulted primarily from acquisitions.
In March 2005, Euronet acquired U.S.-based Dynamic Telecom Inc., a prepaid wireless top-up company. In July 2005, it bought TelecommUSA, a U.S. money-transfer and bill-payment company. And in Europe in 2005, Euronet bought Telerecarga S.A., a Spanish prepaid wireless top-up company, and United Kingdom-based ATX Software Ltd.
In January 2006, Euronet also bought Essentis Ltd., a U.K. company that owns a leading card-issuing and merchant-acquiring software package.
