The online money transfer service provider issued a pre-close trading update evidencing a strong fourth quarter in terms of customer receipts and new customer signups.
As a result, the company expects that revenue for the full year is likely to be slightly ahead of consensus market expectations and remains confident about the prospects in 2006.
Average daily receipts from customers was approximately $4.18 million during the fourth quarter of 2005, up 78% compared to the same period the year before and 15% on the third quarter.
Average daily receipts from customers for the full year 2005 was $3.44 million, up by 90% on average daily receipts for 2004.
As at 31 December 2005, NETeller had 2,320,670 signed-up customers, an increase of over 1 million or 86% from 2004.
Average daily sign-ups of new customers was 3,197 during the fourth quarter of 2005, representing an increase of 54% over a year earlier. Average daily sign-ups of new customers for the year to 31 December 2005 was 2,390, representing an increase of 61% from 2004.
NETeller remains well placed to take advantage of the continuing growth in its key markets. In addition, the 2006 FIFA World Cup is likely to provide additional revenue and customer acquisition opportunities.
“NETeller has continued to show excellent growth across all areas of the business in the fourth quarter and the full year results will demonstrate the continuing strength of the Company,” said Ron Martin, NETeller President and Chief Executive.
“I look forward to capitalising on the many opportunities available to us during 2006 and beyond,” he added.
Calculators
