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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 3, 1997
MoneyGram Payment Systems, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware 1-14350 84-1327808
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
7401 W. Mansfield Ave., Lakewood, CO 80235
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 303-716-6800
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Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Incorporated by reference is a press release issued by the Registrant on
December 3, 1997, attached as Exhibit 99, concerning the outlook for the
Registrant's earnings in the fourth quarter of 1997.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
Exhibits
99. Press Release dated December 3, 1997.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MoneyGram Payment Systems, Inc.
By: /s/ John M. Fowler
______________________________
John M. Fowler
Executive Vice President,
Chief Financial Officer and Treasurer
Dated: December 4, 1997
2
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EXHIBIT INDEX
Exhibit No. Page
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99 Press Release dated December 3, 1997 4
3
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EXHIBIT 99
Contact: Warren Bechtel
201-291-3672
MoneyGram Statement on Earnings Outlook
Saddle Brook, NJ, December 3, 1997---MoneyGram Payment Systems, Inc.
(NYSE:MNE) today issued the following statement regarding the outlook for the
company's earnings in the fourth quarter of 1997:
The consensus of the published estimates from securities analysts for the
company's net income for the fourth quarter of 1997 approximates 24 cents per
common share, about double the level achieved in the fourth quarter of 1996.
With transaction volumes for October and November now known, it has become
clear that net income for the quarter will fall short of those estimates.
However, net income is expected to exceed the 1996 level of 12 cents per share,
with an anticipated range of 13 to 15 cents per share. Declining transaction
volumes in the second half of November in the U.S.-to-Mexico consumer money
transfer market primarily due to the impact of continuing price competition,
together with reduced foreign exchange spreads on those transactions, have led
to this re-evaluation.
(more)
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MoneyGram Payment Systems, Inc. is a leading non-bank provider of consumer
money transfer and other financial services. Through the MoneyGram network of
more than 21,000 convenient agent locations, customers can wire cash in minutes
to more than 100 countries throughout the world. MoneyGram Express PaymentSM
service enables credit card issuers, mortgage servicers, finance companies,
collections companies and others to collect good-funds payments from delinquent
debtors within hours. The company was organized in January, 1996 and completed
the initial public offering of its common shares on December 11, 1996.
This press release contains forward-looking statements. Information
concerning a number of factors that could cause actual results to differ
materially from those forward-looking statements is readily available in the
company's Report on Form 8-K filed with the Securities and Exchange Commission
on October 22, 1997. These factors include consumer demand for money transfer
services, competitive factors, future exchange rates, and unanticipated changes
in laws or regulations affecting the company's business.
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12/3/97
WB/ak
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