Points Intl (PCOM) Tops Q2 EPS by 5c
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Points Intl (NASDAQ: PCOM) reported Q2 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $67.9 million versus the consensus estimate of $75.69 million.
"Our second quarter financial performance reflects continued solid growth in the business and strong improvements in our profitability metrics," said Points CEO Rob MacLean. "Year-to-date, gross margin is up 19% year-over-year, driven by healthy organic growth from our existing partnerships and the new partner launches over the last twelve months."
"We are especially pleased to demonstrate solid bottom-line performance despite absorbing the impacts of industry consolidation this quarter. Adjusted EBITDA in the second quarter improved 28% year-over-year, and net income increased 41%. Year-to-date, Adjusted EBITDA increased 82% and net income improved 107% on a year-over-year basis. We delivered these improvements while simultaneously advancing our platform and consumer offerings as well as absorbing changes in our partner mix which impacted our revenue performance in the second quarter. We are seeing favorable growth in new partnerships launched in the past twelve months and have very strong marketing programs scheduled for Q3 and Q4. We expect these will drive significant top-line growth in the second-half of the year."
"We also continue to be pleased with our business development efforts and have executed several new relationships in the past year. Specifically, we are thrilled to announce today a new partnership with Shangri-La Hotels, a premier hotel network that operates 92 hotels across North America, Europe, Australia, China, and the Middle East. This partnership is expected to launch in the fourth quarter of 2015, and we are very pleased to be bringing a globally recognized, luxury hospitality brand with a strong foothold in Asia onto our loyalty commerce platform."
"We are also very encouraged by the strong progress we have made on the consumer side of our business. We recently signed a second agreement with a digital wallet partner for launch in 2015 and will be relaunching our Points.com consumer website this week, providing a new, mobile-enabled experience for our growing membership base. In addition, our private label hotel booking platform, Points Hotels, is in the final development stages and is anticipated to launch in the fourth quarter of 2015. We are excited about this new product, which will provide a targeted partner branded experience. Looking ahead, we will continue to focus on capturing the long-term growth opportunities in front us, and we will make the necessary investments to sustain Points' growth and leadership position within the loyalty industry," Mr. MacLean added.
For earnings history and earnings-related data on Points Intl (PCOM) click here.
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