Higher One Holdings, Inc. provides technology-based refund disbursement, payment processing, and data analytics services to higher education institutions and students in the United States. It provides Refund Management funds disbursement service that facilitates the distribution of financial aid and other refunds to students, as well as related products and services, including Refund Management ID, Campus Payroll, PLUS Loan Refund Management, Financial Intelligence, and Accounts Payable Solution. The company also offers Payment Processing suite of products, such as ePayment to accept online payments; eBill to automate payer billing and processing functions; Tuition Payment Plans to personali...
115 Munson Street
New Haven, CT 06511
Founded in 2000
Higher One Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 6 14
Higher One Holdings, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $59,775,000 against $57,112,000 a year ago. Revenue growth was driven by the strong organic growth in the Payment Solutions suite of products. Income from operations was $8,844,000 against loss from operations of $7,991,000 a year ago. Net income before income taxes was $7,838,000 against net loss before income taxes of $8,423,000 a year ago. Net income available to common stockholders: diluted was $4,916,000 or $0.10 per diluted share against net loss available to common stockholders: diluted of $5,494,000 or $0.12 per diluted share a year ago. EBITDA was $13,881,000 against LBITDA of $3,596,000 a year ago. Adjusted EBITDA was $14,959,000 against $14,339,000 a year ago. Non-GAAP adjusted net income per share (diluted) was $0.015 against $0.14 a year ago. Adjusted net income was $6,969,000 or $0.015 per diluted share against $6,896,000 or $0.14 per diluted share a year ago. Solid third quarter financial results were led by strong organic growth in both company's Payment Solutions and Campus Labs products. Free cash flow decreased to $10.7 million from the prior year period quarter of $18.1 million. This was largely due to a decrease in net cash provided by operating activities in the third quarter of 2014 compared to cash provided by operating activities in the third quarter of 2013. Capital expenditures were lower by $597,000 in the third quarter of 2014 compared to the same period in 2013.
For the nine months, the company reported revenue of $163,058,000 against $154,515,000 a year ago. Income from operations was $18,564,000 against $14,840,000 a year ago. Net income before income taxes was $17,755,000 against $13,207,000 a year ago. Net income available to common stockholders: diluted was $10,855,000 or $0.23 per diluted share against $7,867,000 or $0.16 per diluted share a year ago. EBITDA was $34,248 25,988,000 a year ago. Adjusted EBITDA was $44,820 $41,784,000 a year ago. Adjusted net income was $21,674,000 or $0.45 per diluted share against $21,070,000 or $0.44 per diluted share a year ago. Net cash provided by operating activities was $20,903,000 against $36,185,000 a year ago. Purchases of fixed assets, net of changes in payables of $200 and $153, respectively were $2,858,000 against $4,563,000 a year ago. Additions to internal use software was $4,173,000 against $2,237,000 a year ago.
Mark Archer Joins Higher One as Chief Risk Officer
Nov 5 14
Higher One announced that Mark Archer has joined the organization as Chief Risk Officer. He will oversee Higher One's strategy and operational processes for all risk-related activities and will report directly to the newly formed Risk and Compliance Committee of the Higher One Board of Directors. Effective immediately, Archer will be responsible for the governance of significant risks across all functions of the business within Higher One. Specifically, he will be responsible for identifying regulatory, enterprise, operating, business and product risks and developing and executing appropriate mitigation strategies and controls. Archer has extensive experience in a variety of leadership roles. Prior to joining Higher One, he served as Chief Operating Officer, Consumer Banking Risk at Standard Chartered Bank in Singapore where he was responsible for Risk operations across 43 countries. Previously, as Senior Vice President at Morgan Stanley/Discover.
Higher One Holdings, Inc. to Report Q3, 2014 Results on Nov 06, 2014
Oct 28 14
Higher One Holdings, Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Nov 06, 2014