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|Vantiv Reports First Quarter 2015 Results|
Vantiv Reports First Quarter 2015 Results
Net Revenue Increased 30% to $374 Million
CINCINNATI, April 30, 2015 - Vantiv, Inc. (NYSE: VNTV) ("Vantiv" or the "company") today announced financial results for the first quarter ended March 31, 2015. Revenue increased 31% to $705.6 million in the first quarter as compared to $537.6 million in the prior year period. Net revenue increased 30% to $374.5 million in the first quarter as compared to $288.5 million in the prior year period, primarily due to strong growth in our Merchant Services segment. On a GAAP basis, net income attributable to Vantiv, Inc. was $19.0 million or $0.13 per diluted share in the first quarter as compared to $28.1 million or $0.18 per diluted share in the prior year period. Pro forma adjusted net income increased 15% to $89.4 million in the first quarter as compared to $77.6 million in the prior year period. Pro forma adjusted net income per share increased 15% to $0.45 in the first quarter as compared to $0.39 in the prior year period. (See Schedule 2 for pro forma adjusted net income and Schedule 6 for GAAP net income reconciliation to pro forma adjusted net income.)
"We delivered strong results for the first quarter of 2015," said Charles Drucker, president and chief executive officer at Vantiv. "Our results reflect the successful execution of our strategy, which is to build on our core strengths while expanding into high growth channels and verticals. By focusing on these priorities, we continue to consistently grow at above market rates and win market share."
Financial Institution Services
Second Quarter Financial Outlook
Earnings Conference Call and Audio Webcast
About Vantiv, Inc.
© 2015 Vantiv, LLC. All Rights Reserved. All trademarks, service marks and trade names referenced herein are the property of their respective owners. Vantiv and other Vantiv products and services mentioned herein as well as their respective logos are registered trademarks or trademarks of Vantiv, LLC in the U.S. and other countries.
Non-GAAP and Pro Forma Financial Measures
The forward-looking statements contained in this release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you review and consider information presented herein, you should understand that these statements are not guarantees of future performance or results. They depend upon future events and are subject to risks, uncertainties (many of which are beyond our control) and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual future performance or results and cause them to differ materially from those anticipated in the forward-looking statements. Certain of these factors and other risks are discussed in the company's filings with the U.S. Securities and Exchange Commission (the "SEC") and include, but are not limited to: (i) our ability to adapt to developments and change in our industry; (ii) competition; (iii) unauthorized disclosure of data or security breaches; (iv) systems failures or interruptions; (v) our ability to expand our market share or enter new markets; (vi) our ability to identify and complete acquisitions, joint ventures and partnerships; (vii) failure to comply with applicable requirements of Visa, MasterCard or other payment networks or changes in those requirements; (viii) our ability to pass along fee increases; (ix) termination of sponsorship or clearing services; (x) loss of clients or referral partners; (xi) reductions in overall consumer, business and government spending; (xii) fraud by merchants or others; (xiii) a decline in the use of credit, debit or prepaid cards; (xiv) consolidation in the banking and retail industries; (xv) the effects of governmental regulation or changes in laws; and (xvi) outcomes of future litigation or investigations. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements. More information on potential factors that could affect the company's financial results and performance is included from time to time in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the company's periodic reports filed with the SEC, including the company's most recently filed Annual Report on Form 10-K and its subsequent filings with the SEC.
Any forward-looking statement made by us in this release speaks only as of the date of this release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Q1 2015 EARNINGS RELEASE SCHEDULES ACCCESSIBLE AT THE LINK BELOW
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Payments Industry Moves to Speed Chip Card Acceptance
Vantiv contributes to development of educational and pre-qualification process for resellers and software vendors
CINCINNATI, May 4, 2015 - Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, played an integral role in creating the U.S. EMV VAR Qualification Program. The program combines a chip education component with an accreditation program to streamline and simplify the testing and certification process for Value Added Resellers (VARs) and Independent Software Vendors (ISVs).
Through a coordinated, industry-wide effort with Payments Security Task Force, PCI Security Standards Council and the EMV Migration Forum, VARs and ISVs will be better equipped to integrate chip cards into small and mid-sized merchants' point-of-sales solutions in advance of the liability shifts scheduled to go into effect by major U.S. payment networks in October 2015.
The optional U.S. EMV VAR Qualification Program consists of three key components:
· An educational curriculum that provides a clear explanation of how to implement chip in the U.S. electronic payments marketplace
"Vantiv is the first company to successfully reach this level of EMV testing and certification to our customers through our VIABLE EMV testing platform which launched in June last year and has been used by many merchants and ISVs to successfully certify," said Patty Walters, senior vice president, EMV corporate strategy at Vantiv. "ISVs using VIABLE have full control over their EMV network validation and pre-cert activities to help give them the support they need as we near the October deadline, now less than 100 business days away."
VARs and ISVs that work with Vantiv have the ability to pre-qualify their payment solution for each of the major payment networks with an accredited service provider. The outcome will be a streamlined go-to-market process for the thousands of solutions that will be introduced as the U.S. migrates to EMV.
To learn more about the educational efforts, visit http://www.emv-connection.com/chip-education-for-vars-isvs-and-merchants/. To begin the pre-qualification process, visit
About the Payments Security Task Force
About Vantiv, Inc.