MoneyGram International Slips To Loss In Q1 - Quick Facts

(RTTNews) - Moneygram International Inc. (MGI), money transfer company, reported that net loss for its first quarter ending March 31, 2015 was $72.0 million or $1.16 per share, compared to net income of $39.0 million or $0.54 per share in the comparable quarter last year.

Adjusted net income for the quarter fell to $6.6 million or $0.11 per share from $26.3 million or $0.37 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter dropped to $330.6 million from $374.9 million in the previous year. Revenue decreased 12 percent on a reported basis and 8 percent on a constant currency basis. Wall Street expected revenues of $333.41 million for the quarter.

The Company's outlook for 2015 is unchanged. For the full-year 2015, the company estimates constant currency revenue growth to be approximately flat.

For Adjusted EBITDA, the company estimates a decline of about 8 to 12 percent on a constant currency basis for the full-year 2015. The Company anticipates that its 2015 results for both revenue and Adjusted EBITDA will be lower in the first half of the year, improving to year-over-year double-digit constant currency growth in the fourth quarter.