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Last $2.42 USD
Change Today +0.03 / 1.26%
Volume 73.7K
PLPM On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 7:40 PM 06/30/15 All times are local (Market data is delayed by at least 15 minutes).

planet payment inc (PLPM) Snapshot

Open
$2.45
Previous Close
$2.39
Day High
$2.45
Day Low
$2.39
52 Week High
07/2/14 - $3.03
52 Week Low
11/7/14 - $1.33
Market Cap
131.3M
Average Volume 10 Days
88.4K
EPS TTM
$0.05
Shares Outstanding
54.3M
EX-Date
--
P/E TM
48.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for PLANET PAYMENT INC (PLPM)

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planet payment inc (PLPM) Details

Planet Payment, Inc. provides international payment, transaction, and multi-currency processing services. The company offers payment processing services that enable the authorization and settlement of payment transactions by providing the connections between the merchant, its bank, and the card association; online access to advanced reconciliation and reporting services, as well as localized language support to its customers; and multi-currency processing services, consisting of Pay In Your Currency, Shop In Your Currency, and Bank In Your Currency, as well as multi-currency processing services designed for payment environments, customer-facing terminals, integrated front-desk systems, ATMs, and online e-commerce gateway or a third-party e-commerce gateway. It also offers iPAY Gateway, which provides PCI-compliant payment gateway services for e-commerce, call center, mail-order, and telephone order merchants; global consolidated reporting and data analytics that offer merchants with insights into their operations; and non-financial transaction processing services, which allow merchants to provide a range of commercial services, including pre-paid mobile phone top-up and bill payments using the same point-of-sale devices deployed to accept payment cards. The company offers its services to acquiring banks, processors, card associations, merchants, and consumers in 23 countries and territories in the Asia Pacific region, the Americas, the Middle East, Africa, and Europe. It distributes and cross sells its services through various points-of-sale and e-commerce payment channels in the hospitality, restaurants, and retail environments. The company was formerly known as Planet Group Inc. and changed its name to Planet Payment, Inc. in June 2007. Planet Payment, Inc. was founded in 1999 and is headquartered in Long Beach, New York.

167 Employees
Last Reported Date: 03/11/15
Founded in 1999

planet payment inc (PLPM) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $244.2K
Chief Financial Officer, Chief Operating Offi...
Total Annual Compensation: $337.0K
Compensation as of Fiscal Year 2014.

planet payment inc (PLPM) Key Developments

Planet Payment, Inc. Enters into a $10 Million Secured Revolving Credit Facility

On June 10, 2015, Planet Payment, Inc. entered into a $10 million (the Line of Credit) secured revolving credit facility pursuant to a Credit and Security Agreement dated June 10, 2015, by and among the Company, Citizens Bank, N.A. (the Bank), and certain affiliates of the Company as borrowers or guarantors. The Credit Facility will provide funds for general corporate purposes and repurchases of issued and outstanding capital stock of the Company. Amounts repaid under the Credit Facility may be reborrowed. The Credit Facility matures on June 10, 2020 and is payable in full upon maturity. Revolving loans under the Credit Facility will accrue interest at the London interbank offered rate then in effect (adjusted for any reserve requirements required by law), plus a margin of 2.50%. The Credit Agreement also provides for a letter of credit sub-facility under the Credit Facility of up to $2 million. The Credit Agreement contains customary representations and warranties and affirmative and negative covenants. Among other affirmative covenants, the Company and its subsidiaries on a consolidated basis must (a) maintain a minimum Fixed Charge Coverage Ratio of 1.20:1.00, tested as of the last day of any fiscal quarter on a rolling four-quarter basis, (b) not exceed a maximum Leverage Ratio (as defined in the Credit Agreement) of 2:00:1:00 at all times, tested as of the last day of any fiscal quarter on a rolling four-quarter basis (Leverage Ratio Covenant) and (c) maintain, at all times, the Minimum Availability Requirement (as defined in the Credit Agreement) of at least $5,000,000 in the aggregate of (i) cash and cash equivalents and (ii) availability under the Line of Credit. Upon the occurrence and during the continuance of an event of default, the Bank may declare the loans and all other obligations under the Credit Agreement immediately due and payable and will then have no further obligation to make advances under the Credit Facility and the immediate right to enforce or realize on any collateral. The Credit Facility is secured by substantially all of the Company's personal property, including the Company's intellectual property and that of its subsidiaries that are borrowers or guarantors.

Planet Payment, Inc. and Global Payments Inc. Announce Worldwide Contract Extension

Planet Payment, Inc. and Global Payments Inc. announced a five-year extension of the parties' worldwide multi-currency processing agreement. Under the renewed agreement, Global Payments and Planet Payment will continue their partnership to offer HomeCurrencyPay™, Global Payments' Dynamic Currency Conversion solution powered by Planet Payment, in existing markets as well as exploring expansion into several new countries. Now offered in thirteen markets across Asia Pacific and North America, HomeCurrencyPay allows international customers to enjoy a more simplified shopping and lodging experience by knowing what they are paying in their home currency, while simultaneously providing the merchant with an opportunity to reduce the processing costs incurred on these transactions.

Planet Payment, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for the Year 2015

Planet Payment, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's net revenue was $12.1 million compared to $11.2 million for 2014. Net income was $1.7 million compared to a net loss of $0.8 million for 2014. Adjusted EBITDA was $2.8 million compared to $0.9 million for 2014. Income from operations was $1,836,226 against loss of $769,305 a year ago. Income from operations before provision for income taxes was $1,822,039 against loss of $785,300 a year ago. Basic and diluted net income per share applicable to common stockholders was $0.03 against loss of $0.01 a year ago. Net cash provided by operating activities was $2,039,708 against net cash used in operating activities was $626,927 a year ago. Purchase of property and equipment was $123,817 against $19,756 a year ago. Purchase of intangible assets was $5,888 against $53,695 a year ago. For the year 2015, the company reaffirmed its revenue, net income and adjusted EBITDA guidance for the full year 2015 as follows: net revenue estimated to be in the range of $49.0 million to $51.0 million, net income estimated to be in the range of $6.0 million to $7.0 million, adjusted EBITDA estimated to be in the range of $11.0 million to $12.0 million and fully diluted earnings per share estimated to be in the range of $0.09 to $0.11 based on 56 million fully diluted common shares outstanding.

 

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Industry Analysis

PLPM

Industry Average

Valuation PLPM Industry Range
Price/Earnings 25.7x
Price/Sales 2.7x
Price/Book 5.0x
Price/Cash Flow 22.9x
TEV/Sales 2.4x
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