September 25, 2017 12:44 PM ET

Consumer Finance

Company Overview of Currency Exchange International, Corp.

Company Overview

Currency Exchange International, Corp. provides currency exchange and related products in the United States and Canada. Its services include foreign currency exchange, traveler’s cheques, multi-currency prepaid cards, foreign check clearing, issuing foreign bank drafts, and international wire transfers. The company serves individuals, groups, companies, and corporations, as well as financial institutions and money service businesses. It operates a network of 38 branches. The company was founded in 1998 and is headquartered in Orlando, Florida.

6675 Westwood Boulevard

Suite 300

Orlando, FL 32821

United States

Founded in 1998

274 Employees

Phone:

407-240-0224

Key Executives for Currency Exchange International, Corp.

President, Chief Executive Officer & Chairman
Age: 48
Total Annual Compensation: $259.8K
Senior Vice President
Total Annual Compensation: $194.2K
Senior VP & Chief Risk Officer
Age: 46
Total Annual Compensation: $140.0K
Vice President of Finance
Age: 35
Total Annual Compensation: $110.0K
Compensation as of Fiscal Year 2016.

Currency Exchange International, Corp. Key Developments

Currency Exchange International Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended July 31, 2017

Currency Exchange International Corp. reported earnings results for the third quarter and nine months ended July 31, 2017. Revenues increased 29% or $2.2 million to $9.9 million for the three month period ended July 31, 2017 from $7.7 million for the three month period ended July 31, 2016. Net operating income increased 38% or $1 million to $3.6 million for the three month period ended July 31, 2017 from $2.6 million for the three month period ended July 31, 2016. Net income increased 31% or $460,000 to $1.9 million for the three month period ended July 31, 2017 from $1.5 million for the three month period ended July 31, 2016. The increase in net operating income and in net income is attributable to an increase in the number of customer transactions resulting from the addition of three new CXI branches as well as 19% growth in wholesale banknote transacting locations since July 31, 2016. Diluted earnings per share was $0.39 against $0.24 a year ago. Revenues increased 21% or $4 million to $23.1 million for the nine month period ended July 31, 2017 from $19.1 million for the nine month period ended July 31, 2016. Net operating income increased 14% or $650,000 to $5.3 million for the nine month period ended July 31, 2017 from $4.7 million for the nine month period ended July 31, 2016. Net income increased 10% or $220,000 to $2.5 million for the nine month period ended July 31, 2017 from $2.3 million for the nine month period ended July 31, 2016. The increase in net operating income and net income was primarily due to an increase in the number of customer transactions resulting from the addition of three new CXI branches as well as 19% growth in wholesale banknote transacting locations since July 31, 2016.

Currency Exchange International, Corp., Q3 2017 Earnings Call, Sep 07, 2017

Currency Exchange International, Corp., Q3 2017 Earnings Call, Sep 07, 2017

Currency Exchange International, Corp. Announces Financial Results for the Second Quarter and Six Months Ended April 30, 2017

Currency Exchange International, Corp. announced financial results for the second quarter and six months ended April 30, 2017. Revenues increased 22% or $1.3 million to $7.2 million for the three month period ended April 30, 2017 from $5.9 million for the three month period ended April 30, 2016. Net operating income increased $264,000 to $1.4 million for the three month period ended April 30, 2017 from $1.2 million for the three month period ended April 30, 2016. Net income increased $145,000 to $625,000 for the three month period ended April 30, 2017 from $480,000 for the three month period ended April 30, 2016. The increase in net operating income and in net income is attributable to an increase in the number of customer transactions resulting from the addition of three new CXI branches as well as 63% growth in wholesale banknote transacting locations since April 30, 2016. Earnings per diluted share was $0.09 against $0.08 for the same period of last year. Revenues increased 16% or $1.9 million to $13.3 million for the six month period ended April 30, 2017 from $11.4 million for the six month period ended April 30, 2016. Net operating income decreased $340,000 to $1.7 million for the six month period ended April 30, 2017 from $2.1 million for the six month period ended April 30, 2016. Net income decreased $239,000 to $539,000 for the six month period ended April 30, 2017 from $778,000 for the six month period ended April 30, 2016. The decrease in net operating income and net income was primarily due to one-time executive replacement costs; one-time fees for the new wholly-owned subsidiary bank, Exchange Bank of Canada, related to membership in certain payments associations to support development of the payments business, and professional fees; and higher recurring expenses for compliance, sales, and shipping. Shipping fees are up due to a large increase in transaction volume.

Similar Private Companies By Industry

Company Name Region
1031 Corp. United States
1800Pay, Inc. United States
1st Franklin Financial Corporation United States
2011-SIP-2 Venture, LLC United States
2262011 Ontario-Delaware Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Tax Management Inc United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Currency Exchange International, Corp., please visit www.ceifx.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.