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10-01-2011 17:18:00

Planet Payment Trading Update

Relateret indhold


Payment, Inc. (LSE: AIM: PPT and PPTR; OTCQX: PLPM), a leading

international multi-currency payment and data processor, provides the

following update on its trading for the fourth quarter and year ended 31

December 2010.

Management estimates that total revenue for the full year 2010 increased

by more than 35% to over $64m (2009: $47.3m). This growth was led by new

merchant deployments with processors and banking customers in the United

States and Asia Pacific region. Revenue from core multi-currency

processing services increased by more than 50% to over $51m (2009: $33m).

Management estimates that total revenue for the fourth quarter 2010

increased by approximately 48% to approximately $21m (Q4 2009: $14.2m),

and by approximately 35% compared to the third quarter 2010 (Q3 2010:

$15.5m). Revenue from core multi-currency processing services for the

fourth quarter 2010 increased 55% to approximately $17.0m (Q4 2009:

$11m), and by approximately 36% compared to the third quarter 2010 (Q3

2010: $12.5m).

The Company also estimates that it has achieved a significant

improvement in adjusted EBITDA for the fourth quarter, as compared to

the third quarter of 2010 and expects to show substantially increased

adjusted EBITDA for the full year in 2010, as compared to fiscal year

2009. (Adjusted EBITDA comprises net income excluding interest, taxes,

depreciation and amortization, non-cash stock-related expense and

certain other non-cash expenses.)

Planet Payment will announce its preliminary results for the period

ended 31 December 2010 in mid March 2011.

“Our services help acquirers open new sales channels, merchants sell

more goods and services and cardholders enjoy informed choice and

transparency at the point-of-sale, ” comments, Philip

Beck, Chairman of Planet Payment, Inc.We are pleased that

our efforts in 2010 have achieved increased revenue, resulting in

positive cash flows and adjusted EBITDA for the fourth quarter. We

believe that the Company is well placed for continued strong growth for


Forward-Looking Statements. Information contained in this

announcement may include ‘forward-looking statements’. All statements

other than statements of historical facts included herein, including,

without limitation, those regarding the financial position, business

strategy, plans and objectives of management for future operations of

both Planet Payment and its business partners, are forward-looking

statements. Such forward-looking statements are based on a number of

assumptions regarding Planet Payment’s present and future business

strategies, and the environment in which Planet Payment expects to

operate in future, which assumptions may or may not be fulfilled in

practice. Implementation of some or all of the new services referred to

is subject to regulatory, or other third party approvals. Actual results

may vary materially from the results anticipated by these

forward-looking statements as a result of a variety of risk factors,

including the risk that implementation, adoption and offering of the

service by processors, acquirers, merchants and others may take longer

than anticipated, or may not occur at all, regulatory changes and

changes in card association regulations and practices; general economic

risk and volume of international travel and commerce and others.

Additional risks may arise with respect to commencing operations in new

countries and regions of which Planet Payment is not fully aware at this

time. See the Company’s Quarterly Reports for prior periods, filed at www.otcqx.com

for other risk factors which investors should consider. These

forward-looking statements speak only as to the date of this

announcement and cannot be relied upon as a guide to future performance.

Planet Payment expressly disclaims any obligation or undertaking to

disseminate any updates or revisions to any forward-looking statements

contained in this announcement to reflect any changes in its

expectations with regard thereto or any change in events, conditions or

circumstances on which any statement is based.

About Planet Payment

Planet Payment’s Common shares trade in the UK on AIM under the symbols

PPT for unrestricted Common shares and PPTR for Reg S Common shares and

in the United States on the OTCQX under the symbol PLPM.

Planet Payment is a leading international payment and data processor,

providing banks and their merchants with innovative solutions to accept,

process and reconcile payments, anytime, anywhere and in any currency.

Our customer base of more than 45 acquiring banks and processors

stretches from North America, to the Middle East, to Asia Pacific,

including China, Hong Kong, Macau, Taiwan, Malaysia and India.

Planet Payment is headquartered in New York and has offices in Atlanta,

Beijing, Bermuda, Delaware, London, Hong Kong, Shanghai and Singapore.

Visit www.planetpayment.com

for more information on the Company and its services. For up-to-date

information follow Planet Payment on Twitter at @PlanetPayment

or join Planet

Payment’s page on Facebook.


Planet Payment, Inc.

Robert Cox (CFO)


+ 1 516 670 3200




Communications (UK PR for Planet Payment)

Emma Kane /Rebecca

Sanders-Hewett / Henry Columbine

Tel: +44 20 7566 6700




Communications, LLC (US PR for Planet Payment)

Hilary Topper /

Kristie Galvani / Lisa Gordon

Tel: 516 997 1950




Genuity Ltd (UK) (Nomad for Planet Payment)

Mark Williams /

Andrew Chubb

Tel: +44 20 7050 6500



Genuity, Inc. (US) (DAD for Planet Payment)

Andy Viles


+1 617-371-3900

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