February 27, 2009 - 9:28am
MoneyGram International, Inc. announced its fourth quarter of 2008 results. The outcomes show that the Company has expanded its global agent network by 23 percent comparing to the same period of the last year. Its money transfer transaction volume reached $391.0 million of unrestricted assets (increase of 8 percent from $368.6 million last year). The full money transfer revenue for the year made $1.0 billion (raise of 18 percent).
Total revenue increase for the period made $319.0 million from a loss of $827.4 million in the same period of 2007.EBITDA (earnings before interest, taxes, depreciation and amortization, and amortization of agent signing bonuses) made $73.1 million. Adjusted EBITDA (EBITDA adjusted for net securities gains and a goodwill impairment charge) made $61.3 million. Interest expense increased to $28.4 million from $4.9 million occurred during the same period of 2007. Net income in the fourth quarter of 2008 was $122.9 million, including a tax benefit of $90.5 million related to net securities losses. The same data for 2007 was as following: a net loss of $1,168.5 million with $1,187.1 million of it falling on the share of net securities losses.
Talking about the Global Funds Transfer segment it should be noted that the total revenue during the period increased to $272.4 million from $39.8 million last year. Transactions originated in the United States and Canada increased 10 percent, against all the other transactions which increased 4 percent comparing to the same period of the previous year.
Operating income of the company during the period made $29.3 million.
The company had elected to pay cash interests on the $500.0 million senior secured second lien notes and accrue dividends on the $767.5 million in participating convertible preferred stock during the period.
Total revenue increase for the period made $319.0 million from a loss of $827.4 million in the same period of 2007.EBITDA (earnings before interest, taxes, depreciation and amortization, and amortization of agent signing bonuses) made $73.1 million. Adjusted EBITDA (EBITDA adjusted for net securities gains and a goodwill impairment charge) made $61.3 million. Interest expense increased to $28.4 million from $4.9 million occurred during the same period of 2007. Net income in the fourth quarter of 2008 was $122.9 million, including a tax benefit of $90.5 million related to net securities losses. The same data for 2007 was as following: a net loss of $1,168.5 million with $1,187.1 million of it falling on the share of net securities losses.
Talking about the Global Funds Transfer segment it should be noted that the total revenue during the period increased to $272.4 million from $39.8 million last year. Transactions originated in the United States and Canada increased 10 percent, against all the other transactions which increased 4 percent comparing to the same period of the previous year.
Operating income of the company during the period made $29.3 million.
The company had elected to pay cash interests on the $500.0 million senior secured second lien notes and accrue dividends on the $767.5 million in participating convertible preferred stock during the period.