Business
International Money Express, Inc. Announces Record Second Quarter 2020 Earnings, Net Income Growth of 26.9%
Second Quarter 2020 - Highlights Net Income of $9.0 million, an increase of 26.9% compared with the prior periodBasic and Diluted Earnings per Share of $0.24,
About this update from International Money Express, Inc.
[{"type":"text","content":"Second Quarter 2020 - Highlights\n Net Income of $9.0 million, an increase of 26.9% compared with the prior periodBasic and Diluted Earnings per Share of $0.24, an increase of 26.3% compared with the prior year periodRevenues of $85.1 million, an increase of 2.9% compared with the prior year periodAdjusted EBITDA of $17.4 million, an increase of 6.8% over the prior year period Net Income noted above generated Free Cash of $10.0 million, an increase of 16.4% over the prior year period MIAMI, Aug. 04, 2020 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance services company, today announced the financial results for the second quarter ended June 30, 2020 and will host a conference call to discuss those results at 5:00 pm ET today. Intermex Chairman, Chief Executive Officer and President Robert Lisy commented “We are very proud of our strong second quarter 2020 results. Our growth in customers and transactions demonstrates the strength of our differentiated and focused business model amid the challenging COVID-19 environment. Intermex once again delivered growth exceeding the market, while leveraging our efficiencies to achieve growth in profitability and cash flow, most importantly, while keeping our employees safe and healthy. I am proud of the hard work of our team and we feel great pride and responsibility in the critical nature of the service we provide for our customers to meet their essential remittance needs.” Mr. Lisy added, “As evidenced by our strong second quarter performance, we remain confident that our superior customer service and operational excellence that has created our “house of brick” will enable us to continue to deliver peer-leading results to our stakeholders.” Second Quarter Financial ResultsIntermex delivered its best second quarter in history in 2020 with Revenues of $85.1 million, an increase of 2.9% over the prior year quarter. This increase in revenues was supported by the 5.8% increase in customers to 2.1 million, driving the 2.7% growth in money transfer transactions to 7.6 million in the second quarter 2020. Contributing to this growth in customers and transactions was the 6.4% increase in agents compared with the prior year period, as well as the recent expansion of countries in which our services are available, growth in o...