MoneyGram's Profit Jumps 40%
07/19/2006
MoneyGram International Inc. (ticker:MGI)
today announced that second quarter profits rose 40% to $36.7
million, or $0.42 per diluted share, up from $26.1 million,
or $0.30 per diluted share in the second quarter 2005.
Second quarter 2006 results reflect:
- Global Funds Transfer segment revenue
growth of over 26% compared to the second quarter 2005,
driven by 42% growth of money transfer transaction volume
and 30% growth of money transfer revenue
- Fee and other revenue of $186.8
million, up 25% from the second quarter of 2005 driven by
the growth in money transfer transaction volume
MoneyGram is part of our Primary
Stock Portfolio and has seen its stock rise 91% since being
added to the portfolio. MoneyGram announced its quarterly results
after the market closed. Including after-hours trading, MoneyGram's
stock rose 5.9% today. |
