Reuters logo
UPDATE 1-MoneyGram reports wider-than expected Q2 loss
July 30, 2010 / 11:56 AM / 7 years ago

UPDATE 1-MoneyGram reports wider-than expected Q2 loss

* 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below