Business
International Money Express, Inc. Announces Results for the Fourth Quarter and Full Year 2019; Introduces Guidance for Full Year 2020
Fourth Quarter 2019 - Financial Highlights Revenues grew 10.9% versus the prior year period as industry volumes moderatedNet Income totaled $5.3 million,
About this update from International Money Express, Inc.
[{"type":"text","content":"Fourth Quarter 2019 - Financial Highlights\n Revenues grew 10.9% versus the prior year period as industry volumes moderatedNet Income totaled $5.3 million, compared to $4.9 million in the fourth quarter of 2018 Basic and Diluted Earnings per Share of $0.14 compared to $0.13 in the fourth quarter of 2018Adjusted Net Income totaled $7.6 million or $0.20 per Adjusted Basic and Diluted Earnings per ShareAdjusted EBITDA increased by 22.6% over the prior year fourth quarter to $14.1 million as the Company grew revenues and executed key efficiency initiativesAdjusted EBITDA margin expanded 160bps compared to the prior year period to approximately 17.0% Full Year 2019 - Financial Highlights Revenues grew 16.7% versus the prior year period based on strong annual performance across our business in the LATAM and Caribbean corridorNet Income totaled $19.6 million, compared to a Net Loss of ($7.2) million for full year 2018Basic and Diluted Earnings per Share of $0.52 compared to a per Share Loss of ($0.28) for full year 2018Adjusted Net Income totaled $32.6 million or $0.87 per Adjusted Basic and Diluted Earnings per ShareAdjusted EBITDA increased by 22.2% over the prior year to $57.6 million based on strong full year revenue growth and operating leverage initiativesAdjusted EBITDA margin expanded 80bps compared to the prior year period to 18.0% MIAMI, March 09, 2020 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance services company focused primarily on the Latin America and Caribbean corridor, today announced results for the Fourth Quarter and Full Year ended December 31, 2019 and will host a conference call to discuss results at 5:00pm ET. Revenues, Net Income, Earnings per Share, Adjusted Net Income, Adjusted Earnings per Share and Adjusted EBITDA Intermex generated revenues of $83.2 million in the fourth quarter, an increase of 10.9% over the prior year quarter. Revenues for the full year of 2019 grew 16.7% over full year 2018 to $319.6 million. Revenue growth was primarily driven by volume growth in the LATAM and Caribbean corridor. The Company reported Net Income in the fourth quarter 2019 of $5.3 million compared to $4.9 million in the prior year quarterly period and $19.6 million for the full year 2019 as compared to a loss of ($7.2) million in 2018. Adjust...