Euronet sees 3Q profit increase

LEAWOOD, Kan. - Euronet Worldwide Inc. reported a 11 percent profit increase for the third quarter of the year, up from $8.9 million, or 23 cents per share, in 3Q 2005 to $10.4 million, or 26 cents per share.

Earnings before interest, tax and amortization also climbed, up 10 percent to $22 million from $19.6 million last year. Revenue jumped 17 percent to $161 million, up from $137.4 million.

A 24 percent ATM expansion and transaction growth contributed to the increase, the company said, as did acquisitions completed after 3Q '05.

The company's ATM portfolio went from up from 6,841 owned and operated ATMs in 3Q '05 to 8,491.

Acquisitions made at the end of the year included Euronet Card Services Greece, formerly Instreamline, in 4Q '05; and a holdings increase in Europlanet, a Serbian ATM and card-processing company, in December 2005.

Segment results

The EFT segment experienced a 27 percent revenue increase, up from $26.3 million to $33.2 million.

The Prepaid Processing segment saw a 12 percent increase in revenue, up from $107.7 million to $121.2 million.

On the software side, revenue jumped more than 100 percent, up from $3.4 million in 3Q '05 to $7.3 million this year.