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Segment information (Tables)
12 Months Ended
Dec. 31, 2015
Segment information  
Schedule of revenue by segment and geographical region and reconciliations to consolidated revenue and gross profit

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

2015

 

2014

 

2013

Net Revenue:

 

 

    

    

 

    

    

 

    

APAC

 

$

16,265,076

 

$

16,621,147

 

$

15,666,192

The Americas

 

 

7,162,346

 

 

6,893,337

 

 

6,165,431

EMEA

 

 

10,036,017

 

 

7,439,601

 

 

7,981,826

Total multi-currency processing services revenue

 

 

33,463,439

 

 

30,954,085

 

 

29,813,449

Payment processing services revenue

 

 

19,351,649

 

 

16,414,654

 

 

16,752,616

Net revenue

 

$

52,815,088

 

$

47,368,739

 

$

46,566,065

Gross Profit:

 

 

 

 

 

 

 

 

 

APAC

 

$

16,136,562

 

$

16,513,492

 

$

15,572,813

The Americas

 

 

6,725,223

 

 

6,733,037

 

 

6,045,441

EMEA

 

 

6,879,321

 

 

5,662,081

 

 

6,515,668

Total multi-currency processing services gross profit

 

 

29,741,106

 

 

28,908,610

 

 

28,133,922

Payment processing services gross profit

 

 

8,447,989

 

 

6,010,975

 

 

5,516,354

Total reportable segment gross profit

 

 

38,189,095

 

 

34,919,585

 

 

33,650,276

Corporate allocated cost of sales

 

 

11,138,471

 

 

11,437,807

 

 

11,368,767

Total gross profit

 

$

27,050,624

 

$

23,481,778

 

$

22,281,509

 

 

 

 

 

 

 

 

 

 

Income from operations before benefit (provision) for income taxes:

 

 

 

 

 

 

 

 

 

Total gross profit

 

$

27,050,624

 

$

23,481,778

 

$

22,281,509

Selling, general and administrative expenses

 

 

20,408,308

 

 

18,370,691

 

 

22,241,656

Restructuring charges

 

 

283,726

 

 

1,227,204

 

 

 —

Income from operations

 

 

6,358,590

 

 

3,883,883

 

 

39,853

Interest expense

 

 

(57,575)

 

 

(65,122)

 

 

(66,905)

Interest income

 

 

1,579

 

 

2,212

 

 

1,038

Other income

 

 

89,494

 

 

139,875

 

 

88,889

Total other income, net

 

 

33,498

 

 

76,965

 

 

23,022

Income from operations before benefit (provision) for income taxes

 

$

6,392,088

 

$

3,960,848

 

$

62,875

 

Schedule of concentration of revenue by customer by geographical region

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

 

2015

 

2014

 

2013

 

Multi-currency processing services revenue:

 

    

    

    

    

    

 

APAC:

 

 

 

 

 

 

 

Customer A

 

58

%  

61

%  

63

%

The Americas:

 

 

 

 

 

 

 

Customer D

 

12

 

17

 

25

 

Customer E

 

18

 

23

 

32

 

Customer F

 

*

 

*

 

11

 

Customer I

 

12

 

20

 

**

 

EMEA:

 

 

 

 

 

 

 

Customer C

 

42

 

60

 

71

 

Customer H

 

58

 

40

 

28

 

 

*            Revenue less than 10%.

**          New customer in 2014.