News
Net 1 UEPS Technologies Announces 2010 4th Quarter and Year End Results and New Contract with SASSA
Net 1 UEPS Technologies, Inc today announced results for the three months ("4Q 2010") and year ended June 30, 2010 ("F2010"). Revenue for 4Q 2010 was $68.7 million, a year over year increase of 11% in US dollars ("USD") and 2% in constant currency.
During 4Q 2010, net loss under US generally accepted accounting principles ("GAAP") was $17.0 million versus net income of $18.2 million for the three months ended June 30, 2009 ("4Q 2009") and includes a $37.4 million goodwill impairment charge related to the Company's Hardware, software and related technology sales segment for 4Q 2010.
GAAP loss per share for 4Q 2010 was $0.37 versus GAAP earnings per share of $0.33 a year ago. Fundamental earnings per share for 4Q 2010 was $0.54 compared to $0.38 for 4Q 2009, representing an increase of 42% in USD and 30% in constant currency.
Revenue for F2010 was $280.4 million, a year over year increase of 14% in US dollars and a decline of 3% in constant currency compared to the year ended June 30, 2009 ("F2009"). Earnings per share under GAAP during F2010 was $0.84 versus $1.53 a year ago, a decline of 45% in USD and 53% in constant currency. Fundamental earnings per share for F2010 was $2.01 compared to $1.46 for F2009, representing an increase of 38% in USD and 17% in constant currency.