Concord EFS, Inc. Releases Supplemental Quarterly and Year End Income Statement Data for Electronic Payment Services, Inc. Acquisition.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--March 3, 1999--Concord EFS EFS Encrypted File System (Microsoft Windows 2000) EFS Event Free Survival (survival rates in clinical trials) EFS Evangeliska Fosterlandsstiftelsen (Sweden) , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CEFT CEFT Czech Educational Foundation of Texas CEFT Competitive Evaluation Field Test CEFT Certified Electronic Funds Transfer ) in response to requests from stockholders, potential stockholders and analysts, below is the supplemental 1998 quarterly and year end unaudited income statement data for Concord Concord, cities, United States Concord (kŏng`kərd, kŏn`kôrd'). 1 city (1990 pop. 111,348), Contra Costa co., W central Calif.; settled c.1852, inc. 1906. EFS, Inc. (Concord). The data reflects the February 26, 1999 business combination between Concord and Electronic Payment Services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. , Inc. (EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. ) accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . The data combines Concord's historical results with EPS's historical results for all periods presented. -0-
1st 2nd 3rd 4th Year Ended
Quarter Quarter Quarter Quarter December
1998 1998 1998 1998 31, 1998
-------- -------- -------- -------- --------
Revenue $133,506 $154,039 $166,290 $175,656 $629,491
Cost of Operations 93,869 108,037 116,768 122,821 441,495
Selling, General &
Administrative 13,100 12,581 12,576 12,928 51,185
-------- -------- -------- -------- --------
Operating Income 26,537 33,421 36,946 39,907 136,811
Interest, Net 749 200 843 1,911 3,703
-------- -------- -------- -------- --------
Income Before
Taxes 27,286 33,621 37,789 41,818 140,514
Income Taxes 9,937 12,290 14,024 15,568 51,819
-------- -------- -------- -------- --------
Net Income $17,349 $21,331 $23,765 $26,250 $88,695
======== ======== ======== ======== ========
Basic Earnings
Per Share $0.14 $0.17 $0.19 $0.21 $0.69
======== ======== ======== ======== ========
Diluted Earnings
Per Share $0.13 $0.16 $0.18 $0.20 $0.67
======== ======== ======== ======== ========
This release may contain statements which may constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, and competition in the company's markets. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future results over time. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion