Net 1 UEPS Technologies Reports Q2 EPS of $0.39 vs. $0.40

Net 1 UEPS Technologies, Inc.

today announced results for the three and six months ended December 31, 2010. Revenue for 2Q 2011 was $89.0 million, a year over year increase of 21% in US dollars and 36% in constant currency. During 2Q 2011, net income under US generally accepted accounting principles was $9.9 million versus net income of $19.3 million for the three months ended December 31, 2009 ("2Q 2010"). GAAP earnings per share for 2Q 2011 was $0.22 versus GAAP earnings per share of $0.42 a year ago. Fundamental earnings per share for 2Q 2011 was $0.39 compared to $0.51 for 2Q 2010, representing a decrease of 24% in USD and 30% in constant currency.