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euronet worldwide inc (EEFT) Key Developments

Wal-Mart Stores Inc., Euronet Worldwide Inc. - Shareholder/Analyst Call

To providing innovative solutions to help customers reduce costs and better manage their money

Euronet Worldwide Inc. Amends and Expands Secured Credit Facility

Euronet Worldwide Inc. announced the amendment and expansion of its secured credit facility with a syndicate of financial institutions. The new agreement increases the revolving portion from $400 million to $600 million, and the outstanding term loan balance from $66 million to $75 million. The amended and expanded credit facility includes additional commitments from both new and existing lenders and will expire on April 9, 2019. The amended facility resets the accordion feature to $100 million, reduces pricing levels by 12.5 basis points across the board and removes the senior secured leverage ratio financial covenant from the agreement, in addition to other changes.

Euronet Worldwide Inc., HiFX Plc - M&A Call

To discuss the details of the HiFX Plc acquisition

Euronet Worldwide Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter of 2014; Reports Impairment of Goodwill and Acquired Intangible Assets for the Quarter

Euronet Worldwide Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenues of $375.4 million against $351.2 million a year ago. Operating income was $16.1 million against operating loss of $1.9 million a year ago. Income before income taxes was $14.4 million against loss before income taxes of $3.2 million a year ago. Net income attributable to the company was $10 million against net loss attributable to the company of $13 million a year ago. Diluted earnings per share attributable to the company’s stockholders were $0.19 against $0.26 a year ago. Adjusted operating income was $34.5 million compared to $26.8 million a year ago. Adjusted EBITDA was $53.1 million against $45.8 million a year ago. Adjusted cash earnings were $33.7 million against $22.9 million a year ago. Adjusted diluted cash earnings per share were $0.63 against $0.44 a year ago. The increase in cash earnings per share was primarily the result of continued focus on adding new products to portfolio and expanding the presence of existing products and services. This was also impacted by about $0.01 of headwind from foreign exchange rates since the company provided guidance in October 2013, and tax benefits stemming from the realization of certain deferred tax assets in various taxing jurisdictions. For the year, the company reported revenues of $1,413.1 million against $1,267.6 million a year ago. Operating income was $118.4 million against $58 million a year ago. Income before income taxes was $115.3 million against $47.3 million a year ago. Net income attributable to the company was $88.0 million against $20.5 million a year ago. Diluted earnings per share attributable to the company’s stockholders were $1.69 against $0.40 a year ago. Adjusted operating income was $117.5 million. Adjusted EBITDA was $194.0 million against $162.8 million a year ago. Adjusted cash earnings were $107.4 million against $87.3 million a year ago. Adjusted diluted cash earnings per share were $2.04 against $1.57 a year ago. The record cash EPS was primarily the result of double-digit consolidated operating income growth from all 3 segments for both the fourth quarter and for the full year. The company expected adjusted cash earnings per share for the first quarter of 2014 to be approximately $0.45, assuming foreign currency exchange rates remain stable through the end of the quarter. For the quarter, the company reported impairment of goodwill and acquired intangible assets was $18.4 million against $28.7 million a year ago.

Euronet Worldwide Inc., Q4 2013 Earnings Call, Feb 12, 2014

Euronet Worldwide Inc., Q4 2013 Earnings Call, Feb 12, 2014

 

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