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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, and releases can be found in the Related Links area of each article.
January 28
MoneyGram International Inc. said its fourth quarter net income rose 105% on improvements in operating efficiencies and an increase in funds transfers.
Its profit for the three months was $16.2 million and revenue rose 2.6%, to $303.4 million.
Profits during the quarter were affected by $5.9 million of stock-based compensation, $16.4 million of a reversal of a patent-lawsuit accrual and $2.3 million of restructuring and reorganization costs, the Minneapolis company said.
A $3.6 million writeoff of deferred financing costs and debt discount related to a $75 million debt prepayment also affected profitability.
Revenue performance reflected a $1.2 million year-over-year decline in investment revenue, MoneyGram said.
Revenue in the global funds-transfer segment rose 4.9%, to $276.7 million. Within that segment, funds-transfer revenue rose 6.7%, to $246.2 million.
Bill-payment revenue fell 8.2%, to $30.4 million, on softness in the traditional auto-loan and credit card payment categories, Pamela Patsley, MoneyGram's chairman and chief executive, said during a Feb. 4 conference call to discuss earnings.
MoneyGram had 227,000 agent locations at the end of the year, a 19% increase from a year earlier, it said.
MoneyGram and Visa Inc. recently expanded their relationship by enabling U.S. consumers to send funds to Visa cardholders in Mexico through MoneyGram retail locations.