CPI Card Group, Inc. (PMTS) Tops Q4 EPS by 2c

CPI Card Group, Inc. (NASDAQ: PMTS) reported Q4 EPS of $0.00, $0.02 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $67.4 million versus the consensus estimate of $61.33 million.

Fourth Quarter 2016 Financial Results

• Total net sales were $67.4 million, a decrease of 28.0% compared with the prior year period. Product net sales decreased 43.1% year-over-year to $36.0 million in the fourth quarter, primarily due to a decline in EMV® chip cards sold. Services net sales increased 3.7% year-over-year to $31.4 million, primarily driven by growth in the U.S. Prepaid Segment and card personalization and fulfillment services.
• Net loss from continuing operations was $4.0 million, or $(0.07) per diluted share, compared with net loss from continuing operations of $1.6 million, or $(0.03) per diluted share, in the prior year period. Fourth quarter 2016 EPS reflects the impact of $1.0 million, or $0.01 per share, of litigation and related charges, $2.7 million, or $0.03 per share, of an intangible asset impairment charge related to the discontinued use of a Company trademark, and $0.4 million of restructuring and other charges.
• Adjusted net income from continuing operations was $0.1 million, or zero cents per share on a diluted basis, compared with $8.8 million and $0.16 per share on a pro forma diluted basis in the prior year period.
• Adjusted EBITDA was $8.6 million, or 12.8% of net sales, compared with $21.8 million, or 23.3% of net sales, in the prior year period.
• Returned $2.5 million to stockholders through dividends in the fourth quarter of 2016.

For earnings history and earnings-related data on CPI Card Group, Inc. (PMTS) click here.

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