ADD to BW1046 (COMDATA) Third Quarter Results.(COMDATA) Third Quarter Results
COMDATA HOLDINGS CORPORATION
Unaudited Statements of Operations
(In thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
1995 1994 1995 1994
Trucking revenues:
Funds transfer $21,781 $20,601 $64,159 $61,395
Permits 7,442 7,519 22,871 22,575
Telecommunications 6,001 4,721 17,013 13,969
Other 4,912 2,623 12,946 7,534
40,136 35,464 116,989 105,473
Consumer and Gaming 32,657 25,899 86,387 68,696
Retail 0 2,230 921 7,335
Total operating
revenues 72,793 63,593 204,297 181,504
Operating costs:
Salaries & employee
benefits 14,834 14,960 43,852 44,289
Agent commissions 15,520 12,096 41,032 31,691
Telecommunications 6,500 5,955 19,513 18,649
Depreciation &
amortization 2,571 2,146 7,323 6,139
Other operating costs 13,620 11,285 38,875 34,907
Total operating
costs 53,045 46,442 150,595 135,675
Income before interest and taxes 19,748 17,151 53,702 45,829 Interest expense, net 7,323 7,679 22,200 23,025 Income before income taxes 12,425 9,472 31,502 22,804 Income tax expense 3,728 797 9,996 2,598 Net income 8,697 8,675 21,506 20,206 Preferred stock dividend requirement, payable in shares of stock or accreting to liquidation preference 3,407 2,948 9,938 9,782 Net income for common stock $5,290 $5,727 $11,568 $10,424 Earnings per Share Net income per common and dilutive common equivalent share $0.24 $0.26 $0.62 $0.63 Weighted average common and dilutive common equivalent shares outstanding 36,046 32,791 34,617 30,813
COMDATA CORPORATION AND SUBSIDIARY
Unaudited Consolidated Balance Sheets
(In thousands)
September 30,
1995 1994
ASSETS
Current Assets:
Cash & cash equivalents $23,896 $14,129
Accounts receivable, net 161,500 135,134
Prepaid expenses and other 9,033 1,824
Total current assets 194,429 151,087
Property and equipment, net 12,809 10,425
Cost in excess of net assets
acquired, net 93,909 81,585
Other assets 17,777 15,550
--------- --------
$318,924 $258,647
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Settlements and drafts payable $116,216 $89,100
Accounts payable 9,675 10,467
Other accrued liabilities 35,329 28,488
Customer security deposits 6,474 6,392
Current portion of long-term debt 1,926 5,965
Total current liabilities 169,620 140,412
-------- --------
Deferred credits 2,287 4,337
Long-term debt, net:
Revolving credit loan 0 165
Senior subordinated notes 130,000 130,000
Subordinated debentures 75,000 75,000
Junior subordinated notes, net 5,911 5,775
Other 1,712 1,466
Total long-term debt, net 212,623 212,406
Stockholders' equity:
Preferred stock - Series A - 17,173
- Series B 78,596 69,874
- Series C 34,583 30,964
Common stock 168 148
Paid-in capital 123,829 102,483
Accumulated deficit (302,782) (319,150)
Total stockholders' equity (65,606) (98,508)
--------- ---------
$318,924 $258,647
CONTACT: Comdata, Brentwood Brentwood, city and district, England Brentwood, city (1991 pop. 51,212) and district, Essex, SE England. Brentwood is mainly residential but produces some agricultural equipment, film, and prefabricated concrete. Dennis Dennis is a male first name derived from the Greco-Roman name Dionysius meaning "servant of Dionysus", the Thracian god of wine, which is ultimately derived from the Greek Dios (Διος, "of Zeus") combined with Nysos or Nysa (Νυσα), where the R. Hanson Hanson may refer to:
or Ludgate Ludgate was the westernmost gate in London Wall. The name survives in Ludgate Hill, an eastward continuation of Fleet Street, and Ludgate Circus. The Romans built a road along the north bank of the River Thames westwards through the gate later called Lud Gate. Communications, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Kristin Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic , (212) 688-7647 |
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