STRATEGIC PARTNERS
October 31, 2002
LEAWOOD, Kan. -- Euronet Worldwide Inc. reported a third-quarter loss of $2.51 million compared with a loss of $5.41 million during 2001's third quarter. Revenues for the transaction software company reached $17.9 million, a 20 percent increase over $14.9 million in 2001.
The Processing Services segment posted third quarter revenues of $13.8 million, a 23 percent increase over revenues of $11.2 million for 2001's third quarter and a 6.5 percent increase over the prior quarter's revenues of $12.9 million.
The Software segment reported $4.1 million in revenues for third quarter 2002, an increase of 11 percent over third quarter 2001 revenues of $3.7 million but a decrease of 10.4 percent from second quarter 2002 software revenues of $4.6 million. Software revenues for third quarter 2002 include $600,000 in revenues from the January 2002 Alltel software license agreement.
As of Sept. 30, Euronet owned and/or operated 2,951 ATMs, compared to 2,840 ATMs in the prior quarter, a 4 percent increase. Quarterly transactions on the network reached 22.3 million in the third quarter 2002, a 48 percent increase over 15.1 million in 2001's third quarter. Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, Serbia-Montenegro, the Czech Republic, the UK., Greece and Egypt.
Euronet's ATM network generated revenue of $17.9 million, up from $14.9 million in 2001's third quarter. However, expenses were $18.5 million, also up from 2001's $15.9 million, resulting in a 2002 third-quarter loss of $615,000.
According to press reports, Euronet plans to focus its future business on providing ATM services for others rather than owning machines. (See related story Euronet shifting more ATM business to outsourcing)
