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Euronet Worldwide reports 61 percent jump in sales in 4Q '04

March 16, 2005

Forbes: Electronic payment provider Euronet Worldwide Inc. reported a fourth-quarter profit on a 61 percent jump in sales from 2004 and issued first-quarter guidance above analyst estimates.

Quarterly income was $4.8 million, or 14 cents per share, compared to a year-earlier loss of $2.2 million, or 8 cents per share. Excluding losses from foreign exchange and early debt retirement, the company posted earnings of $7 million, or 20 cents per share in the latest period, up from $2.4 million, or 8 cents a share, last year. Revenue was $113.1 million, up from last year's $70.1 million.

Analysts surveyed by Thomson First Call expected earnings of 19 cents per share on sales of $110.3 million.

Net income for 2004 was $18.4 million, or 55 cents per share, compared to $11.8 million, or 41 cents, in 2003. Excluding losses from foreign exchange and early debt retirement, the company posted earnings of $19.8 million, or 59 cents per share, compared to $3.6 million, or 13 cents, in 2003. Analysts were looking for earnings of 56 cents a share.

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