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Blackhawk Network Holdings revenues $206 million

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Staff writer ▼ | October 11, 2013
Blackhawk Network Holdings announced financial results for the third quarter ended September 7, 2013. GAAP operating revenues totaled $206 million, an increase of 25% from $164.7 million for the quarter ended September 8, 2012.
Blackhawk Network
Blackhawk NetworkBlackhawk Network Holdings announced financial results for the third quarter ended September 7, 2013. GAAP operating revenues totaled $206 million, an increase of 25% from $164.7 million for the quarter ended September 8, 2012.


This increase was due primarily to an 18% increase in load value, a 58% increase in program, interchange, marketing and other fees due to higher marketing revenues, and a 53% increase in product sales.

Net income totaled $2.4 million compared to $3.1 million for the quarter ended September 8, 2012, due primarily to the inclusion in 2012 results of a $2.6 million after-tax reduction of the Cardpool contingent consideration liability as compared to a $0.2 million after-tax reduction in the third quarter of 2013.

Earnings per diluted share was $0.04 compared to $0.06 for the quarter ended September 8, 2012 due primarily to the lower net income described above and a 4% increase in diluted shares outstanding.

Non-GAAP adjusted operating revenues totaled $100.6 million, an increase of 34% from $75.2 million for the quarter ended September 8, 2012. Adjusted EBITDA totaled $11.5 million, an increase of 59% from $7.2 million for the quarter ended September 8, 2012.

Non-GAAP adjusted net income totaled $4.0 million, an increase of 134% from $1.7 million for the quarter ended September 8, 2012. Adjusted EPS was $0.08, an increase of 167% from $0.03 for the quarter ended September 8, 2012.


 

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