Green Dot Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
For the full year, the company reported total operating revenues of $601,552,000 against $573,621,000 a year ago. Operating income was $58,989,000 against $49,132,000 a year ago. Income before income taxes was $68,906,000 against $52,500,000 a year ago. Net income allocated to common stockholders was $37,890,000 or $0.90 per diluted common shares against $28,680,000 or $1.24 per diluted common shares a year ago. Net cash provided by operating activities was $52,477,000 against $121,344,000 for the same period last year. Payments for acquisition of property and equipment were $30,727,000 against $35,742,000 for the same period last year. Non-GAAP total operating revenue was $610,484,000 against $582,343,000 a year ago. Non-GAAP net income was $63,927,000 or $1.35 per diluted share against $51,407,000 or $1.15 per diluted share for the same period last year. Adjusted EBITDA was $131,913,000 against $103,016,000 for the same period last year.
For the year 2015, the company expected non-GAAP total operating revenues to be between $720 million and $780 million, representing a projected growth range of 18% to 28% over 2014 and reflecting Green Dot's estimates for the potential impact of the discontinuation of the MoneyPak PIN product. Adjusted EBITDA is forecast to be between $150 million and $170 million, representing a projected growth rate range of 14% to 29% over 2014.