 LEAWOOD, Kansas, July 29, 2020 GLOBE NEWSWIRE -- Euronet Worldwide, Inc. Euronet or the Company NASDAQ: EEFT, a leading electronic payments provider, reports second quarter 2020 financial results.Euronet reports the following consolidated results for the second quarter 2020 compared with the same period of 2019: Revenues of 527.8 million, a 24 decrease from 691.9 million 22 decrease on a constant currency1 basis. Operating loss of 101.3 million, compared to operating income of 117.9 million. Adjusted operating income2 of 3.3 million excluding a 104.6 million impairment of goodwill, a 97 decrease from 116.6 million excluding a 1.3 million post-acquisition adjustment 98 decrease on a constant currency basis. Net loss attributable to Euronet of 115.8 million or 2.18 diluted loss per share, compared with net income of 68.2 million or 1.25 diluted earnings per share. Adjusted earnings per share4 of 0.04, a 98 decrease from 1.69. Euronets cash and cash equivalents was 864.9 million and ATM cash was 410.5 million, totaling 1,275.4 million as of June 30, 2020, and availability under its revolving credit facilities was approximately 950 million.See the reconciliation of non-GAAP items in the attached financial schedules.With the completion of the second quarter of 2020, we can see that the strength of Euronets balance sheet, with more than 1.2 billion in cash together with no debt maturities for approximately five years, enabled us to not only survive but retain our nearly eight thousand employees and take advantage of emerging opportunities. As we continue to navigate the COVID-19 pandemic and its impacts on our business, I am pleased that we were able to produce better revenue and adjusted EBITDA results than we anticipated in April based on the trends we were then experiencing following the global COVID-19 control measures put in place by federal, state and local authorities. These better-than-expected results reflect the loosening of certain border control, shelter-in-place and work-place restrictions together with the hard work and dedication of our global team to effectively manage costs while continuing to drive the business forward during these unprecedented times through our leading-edge technology and the diversification of our product and geographical revenue streams, stated Michael J. Brown, Euronets Chairman and Chief Executive Officer. We experienced stronger than anticipated revenue in our epay and Money Transfer Segments together with approximately 35 million cost savings achieved across all three business segments - led by our EFT segment. Moreover, our financial strength has not only allowed us to survive in this pandemic, but has enabled us to continue to drive our business forward. The Company achieved consolidated revenue and adjusted EBITDA that exceeded what management anticipated in April by delivering the following results: EFT constant currency revenue was 35 of prior year revenue, slightly below the anticipated 40 of prior year revenue due to continued border closures across the globe through the end of the second quarter. epay constant currency revenue grew 5 over the prior year, exceeding the anticipated 90 of prior year revenue from strong online and in-app sales of digital media products and continued retail sales of digital media products as a result of pharmacy, grocery and convenience channels being considered essential during the pandemic. Money Transfer constant currency revenue was 96 of prior year, exceeding the anticipated 80 of prior year as a result of the relaxation of certain shelter-in-place and work-place restrictions, unemployment rates decreasing as the quarter progressed and the Companys financial strength which provided for market share gains as competitors in the independent channel face financial and liquidity challenges.As the second quarter ended, epay transactions continued to trend higher, posting year-over-year weekly improvements from strong expansion of digital distribution of digital media products and continued strong retail sales. Money Transfer transactions were also trending higher, posting year-over-year weekly results better than the prior year as a result of employment rates rebounding slightly and the reopening of nearly all of the agent and retail locations following relaxation of governmental restrictions. Finally, at the end of the second quarter, EFT transactions were trending slightly better, but will likely remain depressed throughout 2020 due to slow openings for international and cross-border travelers across the globe. Despite the impact of COVID-19 on the second quarter financial results and expected continued softness in the EFT Segment, the Company remains in a strong financial position to navigate the pandemic. Amid the improving trends there have been reportings of increases in COVID-19 cases in certain countries; accordingly, the Company remains cautiously optimistic about the prospects for the third quarter and beyond. To that end, with improving trends in epay and Money Transfer and continued cost reductions and careful expense management actions, the Company anticipates based on recent trends and current global COVID-19 management mandates that its third quarter adjusted EBITDA will be in the range of approximately 50 million to 70 million and the company will produce approximately 10 million to 30 million in cash from operations. Due to the economic impacts of the COVID-19 pandemic, the Company recorded a 104.6 million non-cash goodwill impairment charge related to three business units. In the Money Transfer Segment, a charge of 82.7 million was recorded for xe as a result of declines in the international payments business stemming from economic uncertainty. In the EFT Segment, a charge of 14.0 million was recorded for Innova as a result of the decline in VAT refund activity directly related to the decline in international tourism within the European Union, and a charge of 7.9 million was recorded for Pure Commerce related to the decline in international tourism in Asia Pacific. In order to provide more comparable operating results, these impairment charges are excluded from second quarter 2020 adjusted operating income, adjusted EBITDA and adjusted EPS. Second quarter 2019 adjusted operating income, adjusted EBITDA and adjusted EPS also excludes a 1.3 million post-acquisition adjustment recorded in the EFT Segment. Segment and Other ResultsThe EFT Processing Segment reports the following results for the second quarter 2020 compared with the same period or date in 2019: Revenues of 78.5 million, a 66 decrease from 231.9 million 65 decrease on a constant currency basis. Operating loss of 56.6 million, compared with operating income of 76.5 million. Adjusted operating loss of 34.7 million excluding 21.9 million impairment of goodwill, compared with adjusted operating income of 75.2 million excluding a 1.3 million post-acquisition adjustment. Adjusted EBITDA of 14.8 million, a 116 decrease from 93.0 million 116 on a constant currency basis. Transactions of 679 million, a 10 decrease from 752 million. Operated 41,648 ATMs as of June 30, 2020, an 11 decrease from 46,636.Revenue, operating loss, adjusted operating loss, adjusted EBITDA and transaction declines in the second quarter 2020 were driven by the impact of fewer transactions in Europe and Asia Pacific, including high-value cross-border transactions, related to the COVID-19 pandemic-driven governmentally-imposed border closures and shelter-in-place orders. To partially offset the transaction declines, the EFT segment realized cost savings of nearly 25 million in the second quarter 2020. The EFT Segments active ATMs were lower than the prior year due to additional temporary closures of more than 7,700 ATMs in Europe to limit the impact caused by COVID-19, partially offset by more than 1,900 new outsourcing ATMs and 850 new high-value deployed ATMs. The epay Segment reports the following results for the second quarter 2020 compared with the same period or date in 2019: Revenues of 187.6 million, a 2 increase from 184.2 million 5 increase on a constant currency basis. Operating income of 18.0 million, a 2 increase from 17.6 million 7 increase on a constant currency basis. Adjusted EBITDA of 19.7 million, a 2 increase from 19.4 million 6 increase on a constant currency basis. Transactions of 585 million, a 59 increase from 369 million. Point-of-sale POS terminals of approximately 703,000 as of June 30, 2020, a slight increase from approximately 700,000. Retailer locations of approximately 324,000 as of June 30, 2020, a slight decrease from approximately 325,000.Second quarter revenue, operating income and adjusted EBITDA growth was driven by continued digital media growth. While revenues grew year-over-year, the epay Segment experienced the impacts of consumer movement restrictions in certain markets, while other markets were positively impacted where the Company has a higher mix of digital distribution or a higher concentration of retailers that were deemed essential and remained open during the pandemic. Transaction growth was the result of increases across Europe and Brazil, as well as very strong contributions from India, which included a large volume of low-value mobile top-up transactions.The Money Transfer Segment reports the following results for the second quarter 2020 compared with the same period or date in 2019: Revenues of 262.8 million, a 5 decrease from 276.8 million 4 decrease on a constant currency basis. Operating loss of 55.2 million, compared with operating income of 35.3 million. Adjusted operating income of 27.5 million excluding 82. 