Thread: Western Union profit up 7 percent

Published Tuesday | April 22, 2008
Western Union profit up 7 percent
http://www.omaha.com/index.php?u_page=1 ... d=10316839

ENGLEWOOD, Colo. (AP) — The Western Union Co. today reported a 7 percent increase in first-quarter net income as favorable exchange rates boosted international business, particularly in India and China.

The global money transfer company based in this Denver suburb also reported a slight uptick in transactions in Mexico where business has slowed because of an immigration reform debate in the United States.

For the quarter that ended March 31, Western Union reported net income of $207.1 million, or 27 cents per share, up from $193.2 million or 25 cents per share in the same quarter of 2007.

Revenue rose 12 percent to $1.3 billion, which beat the analysts' estimate of $1.24 billion.

The company says it is confident it will meet its 2008 financial forecast, but has lowered its net profit target to account for restructuring charges. For the full year, Western Union forecast revenue growth of 9 percent to 11 percent and cash flow from operations of $1.2 billion.

There should be a higher tax on money wired out of the country.

I agree with you miguelina.

Some states are getting rid of the job magnets.
We need to get rid of the remittance magnets too.


"The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism - ownership of government by an individual, by a group, or any controlling private power."
Franklin D. Roosevelt

We should have a boycott on these companies that cater to the illegal population here.

BOYCOTT WESTERN UNION!!