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Technology Stocks : NAP: National Processing, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (23)	1/22/2002 9:55:49 AM
From: JakeStraw	Read Replies (1) \| Respond to of 72

National Processing 4th-quarter earnings jump biz.yahoo.com LOUISVILLE, Ky., Jan 22 (Reuters) - Credit card and check processing company National Processing Inc. (NYSE:NAP) said on Tuesday its fourth-quarter net income surged 75 percent, buoyed by a record number of merchant card transactions. The Louisville, Kentucky-based company reported quarterly net income of $18.2 million, or 35 cents per diluted share, compared with $10.4 million, or 20 cents per diluted share, in the year-earlier quarter. Revenue rose 7 percent to $124 million from $116 million a year before, with merchant card services revenue rising 27 percent to a record high $115.7 million. Earnings before nonrecurring items for the 2001 fourth quarter were $16.6 million or 32 cents per share, up from $15.0 million or 29 cents per share. Analysts had forecast the company would earn an average of 32 cents per share, with estimates ranging between 30 and 33 cents per share, according to five brokers surveyed by tracking firm Thomson Financial/First Call. Looking ahead, National Processing said it expects to earn $1.15 to $1.20 per share in 2002, including items. Wall Street currently expects it to earn an average of $1.25 per share, according to six brokers surveyed by First Call. The company also said it expects core revenues to grow between 10 percent and 15 percent, and core earnings before interest taxes depreciation and amortization to grow from 14 percent to 20 percent.