UPDATE 1-MoneyGram reports wider-than expected Q2 loss

Fri Jul 30, 2010 7:55am EDT

* Q2 loss/shr $0.31 vs est loss/shr $0.28

* Q2 rev fell 3 pct to $283.6 mln

* Says Q2 had $1.9 mln costs related to restructuring

* Sees $45 mln-$50 mln future restructuring costs

July 30 (Reuters) - Payment services company MoneyGram International Inc (MGI.N) posted a wider-than-expected quarterly loss, hurt partly by lower investment revenue and restructuring charges.

The company said it incurred $1.9 million in costs related to restructuring and reorganization activities during the second quarter, and expects future realignment expenses to range between $45 million and $50 million.

For the second quarter, net loss available to common shareholders was $25.8 million, or 31 cents a share, compared with a loss of $33 million, or 40 cents a share, last year.

Total rev was $283.6 million, down 3 percent from last year.

Analysts on average were looking for a loss of 28 cents a share, before items, on revenue of $299.2 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $2.66 Thursday on the New York Stock Exchange. (Reporting by Brenton Cordeiro in Bangalore; Editing by Jarshad Kakkrakandy)

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