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Cpi Card Group Inc. (PMTS) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Cpi Card Group Inc.

CIK: 1641614 Ticker: PMTS

Exhibit 99.1

CPI Card Group Inc. Reports Fourth Quarter and Full Year 2018 Results

Date: March 6, 2019

Fourth Quarter Net Sales of $68.5 million, Up 19% Year-Over-Year

Fourth Quarter Continuing Operations - GAAP Net Loss of $7.2 Million, $5.4 Million on an Adjusted Basis

Fourth Quarter Adjusted EBITDA from Continuing Operations of $5.1 Million, A 53% Year-Over-Year Increase

Cash of $20.3 million, Available Revolver of $20.0 million, Available Liquidity of $40.3 million at Year End

 

Call scheduled for Wednesday, March 6, 2019 at 9:00 a.m. Eastern Time

Littleton, Colo. March 6, 2019 -- CPI Card Group Inc. (Nasdaq: PMTS; TSX: PMTS.TO) (“CPI Card Group” or the “Company”) today reported financial results for the fourth quarter and full year ended December 31, 2018. 

Scott Scheirman, President and Chief Executive Officer of CPI, stated, “Fourth quarter financial results reflect the continued progress we are making towards strengthening our business and fostering changes that we believe will help us to achieve long-term success. Our fourth quarter performance was highlighted by top-line growth of 19% year over year, marking our fourth consecutive quarter of year-over-year net sales growth.  During the quarter, we saw continued top line momentum across the business, particularly in our emerging products and solutions.”

Scheirman continued, “As we enter 2019, we remain committed to our strategy of deep customer focus, providing market-leading quality products and customer service, developing a market-competitive business model and continuous innovation. Through continued thoughtful, disciplined execution of these highly targeted initiatives, we believe we can achieve our vision of being the partner of choice for our customers by providing market-leading quality products and customer service with a market competitive business model.”

Financial results, including non-GAAP measures, discussed in this press release for all periods reflect continuing operations unless otherwise noted. The sale of CPI U.K., which had historically been reported as the U.K. Limited segment has been accounted for as discontinued operations, and comparative financial information has been restated in accordance with U.S. GAAP (“GAAP”) requirements.  All earnings per share amounts reflect the one-for-five reverse stock split, which occurred in December 2017.

Fourth Quarter and Full Year 2018 Consolidated Financial Highlights from Continuing Operations

Net sales were $68.5 million in the fourth quarter of 2018, an increase of 19.2% from the fourth quarter of 2017.  For the full year ended December 31, 2018, net sales were $255.8 million, an increase of 14.3% over the prior year.  Loss from operations was $0.4 million in the fourth quarter of


The following information was filed by Cpi Card Group Inc. (PMTS) on Wednesday, March 6, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Cpi Card Group Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Loss
Consolidated Statements Of Stockholders' Deficit
Consolidated Statements Of Stockholders' Deficit (Parenthetical)
(Loss) Earnings Per Share
(Loss) Earnings Per Share (Details)
(Loss) Earnings Per Share (Tables)
Business
Business (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Capital Lease (Details)
Commitments And Contingencies - Contingencies (Details)
Discontinued Operation
Discontinued Operation (Details)
Discontinued Operation (Tables)
Employee Benefit Plan
Employee Benefit Plan (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Future Aggregate Amortization Expense (Details)
Goodwill And Other Intangible Assets - Goodwill Activity (Details)
Goodwill And Other Intangible Assets - Goodwill By Reporting Segment (Details)
Goodwill And Other Intangible Assets - Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - 2017 Tax Reform (Details)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Continuing Operations (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Foreign Currency Exchange Rate Fluctuations, Changes In Net Operating Losses And Credit Carryforwards (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Long-Term Debt And Credit Facility
Long-Term Debt And Credit Facility (Tables)
Long-Term Debt And Credit Facility - First Lien Credit Facility (Details)
Long-Term Debt And Credit Facility - Long-Term Debt (Details)
Net Sales
Net Sales (Details)
Net Sales (Tables)
Plant, Equipment And Leasehold Improvements
Plant, Equipment And Leasehold Improvements (Details)
Plant, Equipment And Leasehold Improvements (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Balance Sheet Data (Details)
Segment Reporting - Net Sales By Product And Services (Details)
Segment Reporting - Reconciliation Of Ebitda From Continuing Operations To "Net (Loss) Income From Continuing Operations" (Details)
Segment Reporting - Revenue And Ebitda From Continuing Operations (Details)
Stock Based Compensation
Stock Based Compensation (Tables)
Stock Based Compensation - Cash Performance Units (Details)
Stock Based Compensation - Omnibus Incentive Plan (Details)
Stock Based Compensation - Option Plan (Details)
Stock Based Compensation - Restricted Shares (Details)
Stock Based Compensation - Restricted Stock Units (Details)
Stockholders' Equity
Stockholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Advertising Costs And Foreign Currency Translation (Details)
Summary Of Significant Accounting Policies - Bad Debts And Concentration Of Credit Risk (Details)
Summary Of Significant Accounting Policies - Plant, Equipment And Leasehold Improvements (Details)
Summary Of Significant Accounting Policies - Recently Issued Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies - Trade Accounts Receivable (Details)
Ticker: PMTS
CIK: 1641614
Form Type: 10-K Annual Report
Accession Number: 0001558370-19-001550
Submitted to the SEC: Wed Mar 06 2019 4:31:32 AM EST
Accepted by the SEC: Wed Mar 06 2019
Period: Monday, December 31, 2018
Industry: Short Term Business Credit Institutions

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