Euronet Services Signs Record Level of New Software Contracts in Q2
Euronet Services Signs Record Level of New Software Contracts in Q2
Euronet Services Signs Record Level of New Software Contracts in Q2 Leawood, Kansas, USA (June 30, 2000) — Euronet Services Inc. (Nasdaq: EEFT) announces that it has signed a record level of new software sales contracts in the second quarter. The total value of software sales contracts signed in this quarter was $5.3 million – a 65% increase over the first quarter signed software contracts of $3.2 million. The Q2 signed sales contract of $5.3 million is the highest value of signed software contracts for any quarter in the company’s history.
The $5.3 million figure represents the total license fees and other compensation that is provided in software contracts signed during the quarter. These amounts will be booked into software sales backlog as deposits are received under the contracts, and will generate revenues to Euronet as the company performs the contracts by installing the software purchased. As performance generally occurs over a period of several months, revenues from these signed contracts will most likely be realized over the next several quarters.
"We are very pleased with our success in signing new software contracts in the second quarter," commented Michael Brown, Chairman and CEO of Euronet Services. "The investments we have made in new technologies and our efforts to increase customer satisfaction are starting to pay off. We expect to see continued strong demand for our core products and services, as well as growing interest in our new credit card and wireless banking products."
Euronet Services Inc. is a global leader in the rapidly evolving arena of electronic financial transactions. The company provides banks and retailers with an advanced infrastructure for connectivity and transaction processing. The company’s Arksys Software Division offers a suite of integrated retail banking products that include ATM management, POS and merchant systems, credit and debit card systems, internet banking, telebanking, and wireless banking. Euronet operates the largest independent ATM network in Europe and is building a growing transaction processing capacity in the United States. The company serves customers in more than 60 countries around the world.
Any statements contained in this news release which concern the company's or management's intentions, expectations, or are predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a result of a number of factors, including: technological developments affecting the market for the company’s products and services; foreign exchange fluctuations; and changes in laws and regulations affecting the company's business. These risks and other risks are described in the company's periodic filings with the Securities and Exchange Commission, including but not limited to Euronet's Form 10-K for the period ended December 31, 1999, and Form 10-Q for the period ended March 31, 2000. Copies of these filings may be obtained by contacting the company or the SEC.
The $5.3 million figure represents the total license fees and other compensation that is provided in software contracts signed during the quarter. These amounts will be booked into software sales backlog as deposits are received under the contracts, and will generate revenues to Euronet as the company performs the contracts by installing the software purchased. As performance generally occurs over a period of several months, revenues from these signed contracts will most likely be realized over the next several quarters.
"We are very pleased with our success in signing new software contracts in the second quarter," commented Michael Brown, Chairman and CEO of Euronet Services. "The investments we have made in new technologies and our efforts to increase customer satisfaction are starting to pay off. We expect to see continued strong demand for our core products and services, as well as growing interest in our new credit card and wireless banking products."
Euronet Services Inc. is a global leader in the rapidly evolving arena of electronic financial transactions. The company provides banks and retailers with an advanced infrastructure for connectivity and transaction processing. The company’s Arksys Software Division offers a suite of integrated retail banking products that include ATM management, POS and merchant systems, credit and debit card systems, internet banking, telebanking, and wireless banking. Euronet operates the largest independent ATM network in Europe and is building a growing transaction processing capacity in the United States. The company serves customers in more than 60 countries around the world.
Any statements contained in this news release which concern the company's or management's intentions, expectations, or are predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a result of a number of factors, including: technological developments affecting the market for the company’s products and services; foreign exchange fluctuations; and changes in laws and regulations affecting the company's business. These risks and other risks are described in the company's periodic filings with the Securities and Exchange Commission, including but not limited to Euronet's Form 10-K for the period ended December 31, 1999, and Form 10-Q for the period ended March 31, 2000. Copies of these filings may be obtained by contacting the company or the SEC.