|By Business Wire||
|July 24, 2014 10:29 AM EDT||
Calpian, Inc. (OTCQB: CLPI), a global mobile payments technology and processing company, today reported the company’s full year 2014 financial results for the fiscal year ending March 31, 2014, including for the first time the consolidation of the company’s Indian subsidiary Money-On-Mobile which had previously been reported as an investment.
"With strong support from our investors, both long standing and new, as well as our other financial partners and employees, we have been able to make remarkable progress in advancing Calpian toward its objectives on all fronts over the past fiscal year," said Harold Montgomery, Calpian founder and CEO. "Our company has continued to grow and we have strong opportunities ahead as we expand both domestically and in India through Money-On-Mobile."
Revenues – Consolidated revenues were $55.3 million for the year ending March 31, 2014. Revenues included only the fourth quarter of Money-On-Mobile which contributed $29.4 million. Revenues also included a full year of revenue from Calpian Commerce which was acquired in March 2013 and contributed $22.6 million of the total.
Revenue In India – Money-On-Mobile revenues were 8.97 billion Indian rupees for the full year ending March 31, 2014. However, as Calpian only achieved majority ownership in the fiscal fourth quarter, only the fourth quarter’s revenues were consolidated in Calpian’s financial results. (Note: the Indian Rupee to US Dollar exchange rate on March 31, 2014 was USD$1: INR 61.2).
Domestic Revenue in the U.S. – Domestic revenues were $25.5 million for the year ending March 31, 2014. Revenues included a full year of revenue from Calpian Commerce which was acquired in March of 2013, and contributed $22.6 million of the total.
Assets – Consolidated assets were $48.1 million for the year ending March 31, 2014. Assets included $10.1 million of Calpian Commerce assets and $15.9 in Money-On-Mobile assets. Also included in consolidated assets is Calpian’s history-to-date invested capital in the Money-On-Mobile enterprise added to the consolidated balance sheet as part of the conversion from the investment accounting method to the equity accounting method when Calpian acquired majority control.
Equity – Total equity was $15 million for the year ending March 31, 2014, including the reversal of previously passed through losses from the investment in Money-On-Mobile, which are now reflected as part of the company’s investment in the Money-On-Mobile enterprise as shown in the consolidated assets of Calpian.
Cash – Calpian concluded the 2014 fiscal year with a partial closing of an equity raise led by National Securities on March 31, 2014 that was a primary driver of the company’s increase in cash to $8.0 million at year end.
Webcast and Conference Call Information
Calpian will host a conference call to discuss the results at 10 a.m. CDT / 11 a.m. EDT today. Participants can register for the call and webcast via the following link: https://prismdigitalmedia.cwebcast.com/ses/94ZYMQLStkvmeuVhFysBDg~~. Once registered for the call, interested parties will receive the conference call dial-in information. An archived version of the webcast will remain on the Calpian, Inc. website’s “Investor Relations” page following the live webcast.
About Calpian, Inc.
Calpian, Inc. (CLPI) is a global mobile payments technology and processing company offering mobile payment services through Indian subsidiary Money-On-Mobile and domestic transaction services through Calpian Commerce. Money-On-Mobile is a mobile payments service provider that enables Indian consumers to use their mobile phones to pay for goods and services, or transfer funds from one cell phone to another using simple SMS text functionality. Calpian Commerce provides the U.S. merchant community with an integrated suite of payment processing services and related software products. For more information, visit www.calpian.com.
Note to Investors:
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on March 31, 2014. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. Any forecasts that are provided by management in this presentation and are based on information available to us at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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