Last $28.15 USD
Change Today -0.19 / -0.67%
Volume 135.1K
HAWK On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
NASDAQ GS
Munich
As of 8:10 PM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

blackhawk network holdings i (HAWK) Key Developments

Blackhawk Network Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 14, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2014

Blackhawk Network Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 14, 2014. For the quarter, the company announced total operating revenues of $283,944,000 compared to $225,862,000 for the same period a year ago. Operating income was $8,941,000 compared to $5,379,000 for the same period a year ago. Income before income tax expense was $8,338,000 compared to $5,475,000 for the same period a year ago. Net income attributable to the company was $5,116,000 compared to $2,131,000 for the same period a year ago. Diluted earnings per class A and class B share was $0.09 compared to $0.04 for the same period a year ago. EBITDA was $19,711,000 compared to $11,303,000 for the same period a year ago. Adjusted EBITDA was $21,096,000 compared to $18,528,000 for the same period a year ago. Adjusted income before income tax expense was $14,308,000 compared to $13,597,000 for the same period a year ago. Adjusted net income attributable to the company was $8,940,000 compared to $8,737,000 for the same period a year ago. Adjusted diluted earnings per share were $0.17 compared to $0.16 for the same period a year ago. Operating revenues increase was due to a 22% increase in commissions and fees driven primarily by higher closed loop gift card sales, a 40% increase in program, interchange, marketing and other fees due to the acquisition of InteliSpend in late 2013 and strong open loop gift card sales in the U.S. that was partially offset by lower open loop card expiration revenues in Australia, and a 35% increase in product sales primarily driven by Cardpool. Capital expenditures were $9.7 million for the quarter, up 8% from the second quarter of last year, so a slower rate as the company has predicted so far this year. For the full year, the company announced total operating revenues of $517,059,000 compared to $410,912,000 for the same period a year ago. Operating income was $4,728,000 compared to $5,679,000 for the same period a year ago. Income before income tax expense was $3,671,000 compared to $6,052,000 for the same period a year ago. Net income attributable to the company was $2,275,000 compared to $2,477,000 for the same period a year ago. Diluted earnings per class A and class B share was $0.04 compared to $0.05 for the same period a year ago. Adjusted operating revenues were $138,596,000 compared to $107,709,000 for the same period a year ago. Net cash used in operating activities was $411,377,000 compared to $488,669,000 for the same period a year ago. Expenditures for property, equipment and technology were $18,241,000 compared to $15,110,000 for the same period a year ago. Adjusted operating revenues were $254,442,000 compared to $196,777,000 for the same period a year ago. EBITDA was $26,416,000 compared to $16,330,000 for the same period a year ago. Adjusted EBITDA was $32,418,000 compared to $25,884,000 for the same period a year ago. Adjusted income before income tax expense was $19,790,000 compared to $16,684,000 for the same period a year ago. Adjusted net income attributable to the company was $12,334,000 compared to $10,698,000 for the same period a year ago. Adjusted diluted earnings per share were $0.23 compared to $0.20 for the same period a year ago. Free cash flow used was $21,361,000 compared to $12,140,000 for the same period a year ago. Net income increased was driven by overall business growth, the benefits from the favorable court ruling, the amended issuing bank contract described above, and lower mark-to-market partner equity expense, partially offset by lower open loop gift card revenues in Australia and intangible asset amortization expense related to the InteliSpend and Retailo acquisitions. The company provided earnings guidance for the full year of fiscal 2014. The company now expects the full year tax rate on adjusted income before income taxes will be approximately 39% as compared to the 2013 actual rate of 38.2%. The company announced as it looks forward to the rest of 2014, it will, in fact, grow capital expenditure at a lower rate than revenue growth, which will reduce as it goes forward into next year the increase in depreciation expense that the company is seeing this year. For the full year, the company expects: adjusted operating revenues will be in the range of $670 million to $690 million, which would be growth of 24% to 28%; adjusted EBITDA between $137 million and $142 million, growth of 20% to 24%; and adjusted net income in the range of $64 million to $67 million, 11% to 16% growth; and diluted adjusted EPS in the range of $1.19 to $1.24, excluding the cash tax benefit.

Blackhawk Network Holdings, Inc. to Report Q2, 2014 Results on Jul 16, 2014

Blackhawk Network Holdings, Inc. announced that they will report Q2, 2014 results at 4:15 PM, US Eastern Standard Time on Jul 16, 2014

Blackhawk Network Holdings, Inc., Q2 2014 Earnings Call, Jul 16, 2014

Blackhawk Network Holdings, Inc., Q2 2014 Earnings Call, Jul 16, 2014

Blackhawk Network Holdings, Inc.(NasdaqGS:HAWK.B) dropped from S&P Retail Select Industry Index

Blackhawk Network Holdings, Inc.(NasdaqGS:HAWK.B) dropped from S&P Retail Select Industry Index

Blackhawk Network Holdings, Inc. Presents at 2014 Deutsche Bank Technology Conference, Sep-10-2014 02:40 PM

Blackhawk Network Holdings, Inc. Presents at 2014 Deutsche Bank Technology Conference, Sep-10-2014 02:40 PM. Venue: The Cosmopolitan of Las Vegas, 3708 Las Vegas Blvd South, Las Vegas, NV 89109, United States. Speakers: Jerry N. Ulrich, Chief Financial Officer, Chief Administrative Officer and Senior Vice President, William Y. Tauscher, Chairman and Chief Executive Officer.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
HAWK:US $28.15 USD -0.19

HAWK Competitors

Market data is delayed at least 15 minutes.

Company Last Change
American Express Co $90.10 USD +1.03
Best Buy Co Inc $34.96 USD +0.44
Euronet Worldwide Inc $49.80 USD +1.62
View Industry Companies
 

Industry Analysis

HAWK

Industry Average

Valuation HAWK Industry Range
Price/Earnings 28.4x
Price/Sales 1.2x
Price/Book 6.4x
Price/Cash Flow 17.5x
TEV/Sales 0.5x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact BLACKHAWK NETWORK HOLDINGS I, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.