News

Euronet reports 34% increase in 2Q earnings from '04

July 26, 2005

LEAWOOD, Kan. - Euronet Worldwide Inc., an electronic-payments provider, announced in a news release that its revenue for the second quarter of 2005, ended June 30, jumped 34 percent from the same period last year, from $87 million to $132 million. The company's EFT and prepaid processing segments contributed strongly to the gain, with EFT pulling quarterly earnings of $26 million in '05, a 30 percent revenue increase from 2Q '04, and prepaid earning $102.5 million in '05, a 36 percent increase from 2Q '04.

EFT gains, according to the release, resulted from growth in ATM management, primarily in Eurnonet's Indian, Polish and Romanian markets. The company's ATM fleet increased from 5,097 units at the end of 2Q '04 to 6,565 at the close of 2Q '05.

The company's net income, however, dropped from $4.4 million, or 13 cents per share, in 2Q '04 to $3.9 million, or 10 cents per share. The loss was partially influenced by early retirement debt.