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Higher One Holdings, Inc. (1486800) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2015

Higher One Holdings, Inc.

CIK: 1486800
Higher One Holdings, Inc. Reports First Quarter 2015 Financial Results

·
Payments revenue increases 11% on higher transaction volume

·
Data Analytics revenue up 20% on new sales

New Haven, CT, May 7, 2015 –
Higher One Holdings, Inc. (NYSE: ONE) (“Higher One” or the “Company”), today announced financial results for the first quarter of 2015.  The Company reported first quarter 2015 revenue of $65.5 million compared to $66.6 million in the first quarter 2014. Non-GAAP adjusted diluted EPS was $0.21, compared to $0.25 for the first quarter of 2014.
Marc Sheinbaum, President and Chief Executive Officer, said, “Given our challenging operating environment, I was pleased to see our Payments and Data Analytics lines of business continue to grow and further diversify our revenue. In addition to revenue growth, we also experienced strong sales in the quarter, closing multiple large state school deals in Payments and signing 18 new clients in the Data Analytics line of business. And we continue to closely manage expenses across the three lines of business, especially Disbursements, as the negative revenue trends in that line continue.”
GAAP financial results for the first quarter of 2015 compared to the first quarter of 2014:
·
Revenue decreased 1.6% to $65.5 million in the first quarter of 2015 compared to revenue of $66.6 million for the first quarter of 2014
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The Company recorded net income of $6.9 million for the first quarter of 2015, compared to $9.7 million recorded for the first quarter of 2014
·
GAAP diluted EPS was $0.14 for the first quarter of 2015, compared to $0.20 for the first quarter of 2014

Non-GAAP financial results for the first quarter of 2015 compared to the first quarter of 2014:
·
Non-GAAP adjusted EBITDA was $20.3 million in the first quarter of 2015, compared to $22.7 million in the first quarter of 2014
·
Non-GAAP adjusted net income was $9.9 million for the first quarter of 2015, compared to $12.2 million for the first quarter of 2014
·
Non-GAAP adjusted diluted EPS was $0.21 for the first quarter of 2015, compared to $0.25 for the first quarter of 2014

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The following information was filed by Higher One Holdings, Inc. on Thursday, May 7, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Higher One Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1486800
Form Type: 10-Q Quarterly Report
Accession Number: 0001486800-15-000031
Submitted to the SEC: Mon May 11 2015 4:39:37 PM EST
Accepted by the SEC: Mon May 11 2015
Period: Tuesday, March 31, 2015
Industry: Business Services

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