As noted elsewhere in this report, BSG’s business benefited in 2009 from some items which are unlikely to be repeated in 2010. While trading to date in 2010 has remained in line with expectations, we note that management contemplates modestly lower levels of revenue and income in 2010 and will keep the market abreast of developments.
San Antonio, TX (Vocus) April 5, 2010
BSG, a leading provider of clearing, settlement, payment and financial risk management solutions to the telecommunications industry, today announces its audited results for the year ended December 31, 2009.
From 2008 to 2009:
- Revenue increased 2.7% from $142.6 million to $146.5 million
- EBITDA increase 4.6% from $37.2 million to $38.9 million*
- Net income rose by 113.9% from $7.9 million to $16.9 million
- Net income per basic share rose 100% from $0.03 per share to $0.06 per share
- Net income per diluted share rose 100% from $.03 per share to $0.06 per share
EBITDA (a non-GAAP measure) is computed as earnings before interest expense, income taxes, depreciation, amortization and other non-cash and non-recurring expenses
- Expanded Bill2PhoneTM Business Development Management team
- Continued the Texas consolidation plan with the decommissioning of an East Coast third party verification data center
- Established a new process to address consumer and telecommunications partner inquiries on enhanced service charges in order to mitigate complaints
- BSG was named #1 Top Work Places for 2009 for mid-sized companies by the San Antonio Express-News (April 2009)
“We executed superbly against economic headwinds. Improvements in EBITDA and net income demonstrate management’s laser-like focus on the fundamentals of customer care and expense control,” said Pat Heneghan, Non-Executive Chairman.
“Historically, we have offered our services to the North American wireline telecommunications industry. To counteract trends favoring displacement of the wireline industry with wireless alternatives, BSG has successfully introduced new services and a broader array of payment solutions, including Bill2Phone. Management has also reduced operational costs and personnel expenses. The result has been consecutive year-over-year improvements in revenue and earnings, which have allowed meaningful debt repayments.
“As noted elsewhere in this report, BSG’s business benefited in 2009 from some items which are unlikely to be repeated in 2010. While trading to date in 2010 has remained in line with expectations, we note that management contemplates modestly lower levels of revenue and income in 2010 and will keep the market abreast of developments.”
To view the complete report, visit http://www.bsgclearing.com.
BSG (http://www.bsgclearing.com) was admitted to the AiM market of the London Stock Exchange in June 2005 and trades under the symbol BILL. The Company’s operating subsidiary, BSG Clearing Solutions, is the leading provider of third party clearinghouse services for the North American telecommunications industry.