Net 1 UEPS Technologies (UEPS) Reports Q4 EPS of $0.29, Revenues Miss; Offers FY19 EPS Guidance Below Consensus
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Net 1 UEPS Technologies (NASDAQ: UEPS) reported Q4 EPS of $0.29. Revenue for the quarter came in at $149.2 million versus the consensus estimate of $162.72 million.
- Revenue of $149.2 million and Fundamental EPS of $0.22 ($0.29 excluding fair value adjustments);
- Adjusted EBITDA of $24.3 million;
- EPE account growth in the quarter of 0.4 million, to a total of 2.9 million at June 30; and
- Stabilization in South Korea and repositioning of the International Payments Group.
“It is with great excitement that we are counting down the days to the end of our SASSA contract on September 30, 2018,” said Herman Kotzé, CEO of Net1. “While many investors have been concerned that the end of this relationship would severely impact our other South African businesses, I can happily point to our solid Q4 we achieved despite a nearly 80% decline at CPS, as well as our guidance for fiscal 2019. Furthermore, the elimination of the negative impact that this contract has had on our business, management’s time and shareholder value, should provide a meaningful lift to product refinement and R&D going forward. We see many opportunities as we look ahead to the next several years. We expect to demonstrate our capabilities as a strong financial technology and services business with the proven ability to be the last mile provider of transacting, value added and financial services to the under-serviced individuals and businesses in our markets, regardless of their location. I am confident that our deep understanding and expertise in the areas of off-line payment systems, biometrics and blockchain applications will be leveraged to affirm our status as an innovative global fintech business,” he concluded.
Net 1 UEPS Technologies sees FY2019 EPS of $1.05, versus the consensus of $1.40.
For earnings history and earnings-related data on Net 1 UEPS Technologies (UEPS) click here.
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