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Monday, March 25, 2013

Vantiv, one year after IPO

Cincinnati-based merchant acquirer Vantiv LLC celebrated its first anniversary as a publicly traded company by reporting it had surpassed the goals it set for itself one year ago. "When we went public last year, we set out to achieve aggressive financial objectives, and due to the hard work of our employees, we exceeded those goals last year," said Vantiv Chief Executive Officer Charles Drucker.

Vantiv said it is now the top ranked processor of PIN-debit card transactions in the United States and the number three ranked overall U.S. acquirer, based on transaction volume. The GSQ 2012 Acquirers Report said that Vantiv was on pace to process $400 billion in transactions in 2012. The report added that Vantiv's growth was attributed to its acquisitions, with large e-commerce ISO Litle & Co. among them.

In its fourth quarter 2012 and full year financial statement, Vantiv reported $188.4 million in net revenue, a 12 percent increase over the same period in 2011. On a full-year basis, net revenue increased 24 percent to $699.8 million, primarily due to a 24 percent increase in transactions, the acquirer said.

Vantiv went public on March 22, 2012. According to research and analysis by Yahoo! Finance and First Annapolis Consulting, Vantiv's stock was the lowest priced among six publicly traded acquirers and processors. As of Nov. 19, 2012, Vantiv's stock was a bargain at $20.15, while processor Fiserv Inc. and acquirer Global Payments Inc. were trading at $73.62 and $42.24, respectively. end of article

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