NAP: National Processing, Inc. Message Board

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Technology Stocks : NAP: National Processing, Inc.

NAP 2.500

+0.7%

Dec 13 4:00 PM EST

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To: JakeStraw who wrote (4)	7/18/2001 8:37:09 AM
From: JakeStraw	Read Replies (1) of 72

National Processing Q2 net up 23 percent biz.yahoo.com LOUISVILLE, Ky., July 18 (Reuters) - Check and credit card processor National Processing Inc. (NYSE:NAP - news) on Wednesday reported 23-percent higher second-quarter operating earnings, reflecting a sharp increase in revenues from its Merchant Card Services unit. The company said its net income for the quarter, excluding one-time items, was $14.1 million or 27 cents per share, up from $11.5 million or 22 cents per share a year ago. Analysts on average were expecting National Processing to earn 26 cents per share, according to Thomson Financial/First Call. One-time items included a $6.2 million after-tax charge for the loss associated with the divestiture of its business process outsourcing unit. Second-quarter net income including the charges was $7.9 million or 15 cents per share, compared with $10.5 million or 21 cents per share a year ago. Revenues rose to $117.9 million from $104.5 million. National Processing said it now expects 2001 revenues to grow by 7 percent to 10 percent, slightly down from its previous expectation of 11 percent to 14 percent. However, it still expects 15 percent to 20 percent earnings per share growth for the year, excluding one-time items. Analysts have been expecting National Processing to post 2001 earnings of $1.12 per share.

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