IMGCAP(1)]
Euronet Worldwide Inc. today reported a fourth-quarter 2008 net loss of $201.8 million. The Leawood, Kansas-based company, which operates ATMs, processes prepaid card transactions and provides funds-transfer services in 15 countries, reported net income of $19.6 million for the same period a year earlier. Revenues totaled $255.7 million, down 1.8 % from $260.4 million. The EFT processing segment reported revenues of $50.3 million for the quarter, up 1% from $49.8 million. EFT transactions processed during the quarter totaled 184.9 million, up 8.9% from 169.8 million. The prepaid processing segment reported fourth-quarter revenues of $145.4 million, down 6.4% from $155.4 million. Euronet's funds-transfer segment reported revenues of $60 million for the quarter, up 8.7% from $55.2 million. For the year, Euronet reported a net loss of $195 million. That compares with net income of $53.6 million in 2007. Full-year revenues were $1.05 billion, up 16.3% from $902.7 million. The EFT processing segment reported full-year revenues of $205.3 million, up 18% from $174 million in 2007. EFT transactions processed in 2008 totaled 704.2 million, up 16.6% from 603.8 million in 2007. The segment also owned or operated 10,128 ATMs at the end of 2008, down 10.7% from 11,347 a year earlier. Euronet's ATMs are located primarily in China, Europe and India. For the year, the prepaid-processing segment reported revenues of $609.1 million, up 6.9% from $569.9 million in 2007. The funds-transfer segment reported full-year revenues of $231.3 million, up 45.7% from $158.8 million. Euronet owns the MoneyGram funds-transfer business.
