Currency Exchange Intl Corp (OTC:CURN)

Currency Exchange Intl Corp (OTC:CURN) company engages in the money service and payment businesses in the United States and Canada. The company reported Q2 2023 results:

• Sales of $18.3 million vs $14.1 million in the prior year

• EPS of $0.33 vs $0.19 in the prior year

“The second quarter of 2023 demonstrated strong year-over-year growth as increased demand for international travel reaches near pre-COVID levels. The return to more traditional seasonality in travel patterns have translated into the second quarter showing continued strong growth in banknotes leading into the third quarter being the strongest as it relates to banknote revenue. We anticipate this pattern will reoccur in 2023, supported by continued year-over-year growth as international travel is expected to recover to pre-pandemic levels during this year. Continued execution against our strategic plan, in which significant investments are being made in our people, infrastructure and technology platforms to support more efficient future growth remains a top priority. The second quarter continued the successful transition to our new organizational structure that took effect on November 1, 2022, and I am confident that we have the right team and systems to achieve our vision of remaining a leading preferred provider of foreign exchange solutions for financial institutions globally.”

Currency Exchange Intl Corp (OTC:CURN) ($13.40; $86.0M Market Cap) company engages in the money service and payment businesses in the United States and Canada. The company reported Q1 2023 results:

• Sales of $16.5 million vs $12.5 million in the prior year

• EPS of $0.24 vs $0.23 in the prior year

“The first quarter of 2023 demonstrated strong year-over-year growth as we continue to see increased demand for international travel. We are also seeing a return to more traditional seasonality in travel patterns, which historically has translated into Q1 being the weakest quarter and Q3 being the strongest as it relates to banknote revenue. We anticipate that pattern will reoccur in 2023, supported by continued year-over-year growth as international travel is expected to recover to pre-pandemic levels during this year. We maintain our focus in executing against our strategic plan, in which significant investments are being made in our people, infrastructure and technology platforms to support more efficient future growth. The first quarter marked the successful transition to our new organizational structure that took effect on November 1, 2022, and I am confident that we have the right team and systems to achieve our vision of being the preferred provider of foreign exchange solutions.”