CPI Card Group sees FY17 adjusted EPS of 35c-46c, consensus 45c
Sees FY17 revenue of $315M-$340M, consensus $333.1M. The company said: "For 2017, we expect the U.S. Debit and Credit migration from magnetic stripe cards to EMV cards to continue, but at lower volumes, with the focus primarily on the small and mid-sized issuers. We also expect the mix of replacement cards to shift to EMV cards given the greater percentage of EMV cards in the marketplace as a result of past years' migrations, resulting in similar industry-wide EMV card volumes in 2017 compared to 2016. In addition, our outlook assumes limited market adoption of dual interface cards and modest levels of metal card sales. We continue to expect our services business to grow in 2017, driven by continued solid demand for our broad suite of value-added services and solutions."