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Updating earnings guidance

Forward-looking statements contain information about future operating or financial performance, and forward-looking statements are based on our current expectations and assumptions and involve risks and uncertainties that could cause actual results or events to be materially different from those anticipated.

Further, such forward-looking statements speak only as of the date of this presentation.

We undertake no obligation to update or revise any such statements as a result of new information, future events or otherwise.

Digital revenues continued to grow healthy double digits and represented 15% of U. As a result of Cardpool's underperformance, we revalued the Cardpool asset and recorded a non-cash goodwill impairment charge during the third quarter, and as I mentioned, we've moved it to an asset held for sale.

Finally, Target began to ramp in the third quarter, and we're currently shipping upgraded fixtures to all 1,800 Target stores, which will expand the card selection for the important holiday season.

The Grass Roots Meetings & Events business unit is included in actual results but was excluded from guidance.

If you have any objections, please disconnect at this time. Patrick Cronin, Blackhawk's Vice President of Finance and Investor Relations.Please go ahead.--------------------------------------------------------------------------------Patrick Cronin, Blackhawk Network Holdings, Inc.

Included in international results is approximately $7 million of adjusted operating revenue and $1 million of adjusted EBITDA related to the Grass Roots Meeting & Events business unit or M&E, which we expect to successfully divest before the year-end.For a list and description of those risks and uncertainties, please see the safe harbor statement on Slide 2 and the Risk Factors section in our filings with the SEC.And now I'll turn the call over to Talbott.--------------------------------------------------------------------------------L.We are pleased with company performance in Q3, which met our expectations at the bottom line.Revenues fell shy of expectations primarily due to continuing challenges at Cardpool. retail, we grew revenues in both physical and digital channels, and the post-EMV recovery of open loop sales performed in line with expectations.I'd like to remind everyone that management will make statements during this call that are forward looking within the meaning of federal securities laws.