Payment processor NETeller plc reported a US$145.9 million loss for the third quarter. Despite the large loss, $136 million of which was due to the forfeiture to US authorities, NETeller reported a 24% increase in revenue from continuing operations to US$11.8 million. The internet gamlbing e-wallet provider saw strong growth in the Asia Pacific region.
“The third quarter has demonstrated the resilience of the Neteller business and the results from our European and Asia Pacific businesses show that we are regaining the trust of customers and continuing to deliver innovative solutions to our merchants," stated NETeller President & Chief Executive Officer Ron Martin. "Geographic diversification remains a key part of our growth strategy although the Board continues to be mindful of regulatory concerns in certain markets. Our strong presence at EiG in Barcelona reiterated our commitment and focus to the online gaming sector and I believe we are progressing well in one of our core mission objectives, to be the pre-eminent provider of payment solutions for selected markets in the online gaming sector. The launch of the first phase of our global card programme is proceeding as planned and we are on track to offer additional card-related services during the first half of 2008.”
NETeller's active customer base increased 21.4% to 142,153 for the third quarter of 2007. The regional distribution of active customers included 72,849 in Europe (up 12% over Q3 2006) and 17,638 in Asia Pacific (up 21%) The total number of non-North American active customers at the end of Q3 was 94,925, an increase of 14% over the same period last year. The strong grow trend outside the United States shows the company's commitment to life after UIGEA.
