Last $0.22 USD
Change Today -0.0192 / -8.03%
Volume 6.9K
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As of 2:37 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

3pea international inc (TPNL) Key Developments

3Pea International, Inc Reports Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

3Pea International Inc. reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenues were $1,931,377, compared to $2,044,424 in the fourth quarter ended December 31, 2012. Operating income for the fourth quarter ended December 31, 2013 was $411,984, as compared to $14,468 for the fourth quarter ended December 31, 2012. Net income for the fourth quarter ended December 31, 2013 was $397,988 or $0.01 per basic and fully diluted share, compared to $147,709, or $0.00 per basic and diluted share for the fourth quarter ended December 31, 2012. The increase is primarily due to the aforementioned factors. For the year, the company reported revenues of $6,307,891 compared to $6,700,388 a year ago. Income from operations was $669,818 compared to $574,851 a year ago. Income before provision for income taxes and non-controlling interest was $610,734 compared to $1,808,574 a year ago. Net income attributable to the company was $611,684 compared to $1,816,861 a year ago. Net income per diluted share was $0.01 compared to $0.05 a year ago. The overall change in net income is primarily due to a gain on debt extinguishment totaling $1,295,879 in 2012, partially mitigated by the increase in new corporate incentive card programs.

3PEA International Inc. Appoints Ruben Corona as Vice President of Sales and Strategy

3PEA International Inc. announced the hiring of Ruben Corona as Vice President of Sales and Strategy. In this capacity, Mr. Corona will develop, implement and manage the company’s sales initiatives targeting new and existing verticals within the prepaid space. Ruben brings to the company his years of expertise including his experience as President of IRAP Consulting, Independent Sales Management Consultant for Oracle Partner Network companies as well as territorial management positions for Zensar Technologies and Thought digital LLC.

3Pea International, Inc Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

3Pea International Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported revenues of $1,061,132 against $622,368 a year ago. Loss from operations was $77,669 against income from operations of $107,858 a year ago. Loss before provision for income taxes and non-controlling interest was $92,657 against loss before provision for income taxes and non-controlling interest of $114,987 a year ago. Net loss attributable to the company was $92,547 against income loss attributable to the company of $112,191 a year ago. The increase in revenue is primarily due to several new card programs launched during 2012 including prepaid card programs targeting plasma donation centers. For the nine months, the company reported revenues of $4,376,554 against $4,655,964 a year ago. Income from operations was $257,834 against $560,383 a year ago. Income before provision for income taxes and non-controlling interest was $213,518 against $1,671,941 a year ago. Net profit attributable to the company was $213,696 against $1,669,152 a year ago. Diluted net income per common share was $0.01 against $0.05 a year ago. Net cash used in operating activities was $1,217,698 against cash flow from operating activities of $341,341 a year ago. Purchase of fixed assets was $31,970 against $72,144 a year ago. Purchase of intangible assets was $122,076 against $118,417 a year ago.

3Pea International, Inc Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

3Pea International Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company's revenues were $1,204,386 compared to $2,549,003 a year ago. The decrease in revenue is primarily due to the timing of implementation and utilization of pharmaceutical card programs, which makes up the majority of revenues. Income from operations was $94,723 compared to $360,468 a year ago. Income before provision for income taxes and non controlling interest was $79,779 compared to $1,480,817 a year ago. Net income attributable to the company was $79,839 or $0.00 per fully diluted share compared to $1,480,820 or $0.04 per fully diluted share a year ago. The decrease in net income is attributable to the gain on debt extinguishments of $1,136,055 in the prior year, which is considered a non-recurring transaction, and the increase in selling, general and administrative costs related to in-house call center. For the six months, the company's revenues were $3,315,423 compared to $4,033,595 a year ago. Income from operations was $335,503 compared to $452,556 a year ago. Income before provision for income taxes and non controlling interest was $306,176 compared to $1,557,152 a year ago. Net income attributable to the company was $306,243 or $0.01 per fully diluted share compared to $1,557,160 or $0.04 per fully diluted share a year ago. Net cash used in operating activities was $896,557 compared to net cash provided by operating activities of $170,653 a year ago. Purchase of fixed assets was $19,672 compared to $25,350 a year ago. Purchase of intangible assets was $91,047 compared to $79,758 a year ago.

3Pea International, Inc. Announces the Launch of its New PaySign(R) Payments Platform

3Pea International Inc. announced the launch of its new PaySign(R) payments processing platform. In response to the rapidly changing face of payment technologies and customer demands, the PaySign(R) platform was built on modern cross-platform architecture and designed to be highly flexible, scalable and customizable. The platform will allow 3Pea to significantly expand its operational capabilities, allowing 3Pea to enter new markets within the payments processing space. The PaySign(R) platform was designed to easily incorporate new payment technologies and applications as they evolve, keeping 3Pea at the forefront of payment innovation. The platform provides the flexibility and efficiencies that will allow 3Pea to significantly reduce the time and cost related to card program development and customization, resulting in increasing operating margins. The PaySign(R) platform is equipped to facilitate EMV (EuroPay, MasterCard, and Visa) smart card payment system (Chip and PIN) payments on a global basis. The PaySign(R) Platform will be integral in the development, launch and support of the PaySign(R) brand of prepaid debit cards, a line of prepaid cards targeting the General Spend, Corporate, Government and International markets.

 

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