Print
Email
Net 1 UEPS Technologies Inc. (UEPS) filed Quarterly Report for the period ended 2011-12-31.
Net 1 Ueps Technologies Inc. has a market cap of $500 million; its shares were traded at around $10.99 with a P/E ratio of 7.1 and P/S ratio of 1.4. Net 1 Ueps Technologies Inc. had an annual average earning growth of 5.8% over the past 5 years.
This is the annual revenues and earnings per share of UEPS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of UEPS.
Highlight of Business Operations:
Pro forma results of operations have not been presented because the effect of the acquisition, individually and in the aggregate with other acquisitions during fiscal 2012, was not material. During the three and six months ended December 31, 2011, the Company did not incur any acquisition-related expenditure. Since the closing of the acquisition, the acquisition has contributed revenue of $5.3 million and a net loss of $0.3 million.Pro forma results of operations have not been presented because the effect of the SmartLife acquisition, individually and in the aggregate with other acquisitions during fiscal 2012, was not material. During the three and six months ended December 31, 2011, the Company did not incur any acquisition-related expenditure. Since the closing of the acquisition, SmartLife has contributed revenue of $0.3 million and net loss of $0.3 million.
For the three and six months ended December 31, 2011, the tax charge was calculated using the expected effective tax rate for the year. The Company’s effective tax rate for the three and six months ended December 31, 2011, was -27.3% and 10.4%, respectively, as a result of a change in tax law in South Africa, non-taxable profit on liquidation of SmartSwitch Nigeria, fewer non-deductible expenses, offset by increased interest expense related to the Company’s long-term Korean borrowings and the creation of a valuation allowance The Company’s effective tax rate for the three and six months ended December 31, 2010, was 49.4% and 47.6%, respectively, as a result of non-deductible expenses, including transaction-related expenses and interest expense related to the acquisition of KSNET.
Our operating income margin for the first half of fiscal 2012 and 2011 was 27% and 22%, respectively. We discuss the components of the operating income margin under “—Results of operations by operating segment”, however the increase is attributable to lower stock-based compensation charges and the non-cash profit related to the liquidation of SmartSwitch Nigeria of $4.0 million in the first half of fiscal 2012 compared with fiscal 2011 and transaction-related costs during fiscal 2011.
The decrease in revenue and operating income was due to a lower contribution from all contributors to hardware and software sales. Net1 UTA has successfully contained its operating costs and generated higher-margin ad hoc service and development revenues during the first half of fiscal 2012. The increase in operating margin to 18% compared with an operating loss margin of 10% is attributable to the sale of more software and license revenues in 2012, which contribute higher margins compared to hardware sales.
Subscribe RSS
