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Western Union Q3 2009 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 3:20 AM ET October 30 2009

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The Western Union Company third quarter revenues fell 5% to $1.31 billion and net income fell 25% to $181 million or 26 cents a share.


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Operator

And our next question will come from the line of Christopher Mammone with Deutsche Bank. Please proceed.

Christopher Mammone - Deutsche Bank North America

Hi. Thanks. Just, I guess, main focus is on 2010 and realizing that your constant currency revenue growth this year is reasonably outperforming what the World Bank is forecasting for the market as a whole and just looking at the World Bank''s forecast for slight growth in 2010, I guess, as a baseline, how you thinking about your own topline next year and maybe how that can relate to what the World Bank is being saying?

Christina A. Gold

We''re working our way through it in terms what the World Bank is being saying but the other thing to remember, every time they put out a projection, they keep drawing down. So as we look at 2009, we''re pleased to see we''re outperforming in terms of the World Bank numbers.

So obviously, they''re looking at a zero to 3 or 4, so that''s where they are. And we''re just working through our numbers in terms of where we feel we''ll be in 2010 and so it''s a little bit early for us to give that type of information.

Christopher Mammone - Deutsche Bank North America

Okay.

Christina A. Gold

But we normally outperform the World Bank.

Christopher Mammone - Deutsche Bank North America

Okay. Thanks. And then just housekeeping, I think, was the Custom House contribution around $8 to $9 million, is that what you said?

Christina A. Gold

No. Yeah.

Scott T. Scheirman

$8 million, you''re correct. $8 million, Chris.

Christopher Mammone - Deutsche Bank North America

Yeah. And that''s just a month impact, so I''m just wondering is that sort of a good number to use for monthly revenue run rate or is there any lumpiness there?

Scott T. Scheirman
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