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v3.19.3.a.u2

Operating Segments | 6 Months Ended
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Dec. 31, 2019
Operating Segments [Abstract] |
Operating Segments | 19. Operating segment s The Company discloses segment information as reflected in the management information systems reports that its chief operating decision maker uses in making decisions and to report certain entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets or reports material revenues. A description of the Company’s operating segments is contained in Note 21 to the Company’s audited consolidated financial stat ements included in its Annual Report on Form 10-K for the year ended June 30, 2019. As discussed in Note 22, the Company has presented DNI as a discontinued operation. The reconciliation of the reportable segment’s revenue to reven ue from external customers for the three months ended December 31, 2019 and 2018, is as follows:
|  |  |  |  |  |  |  | Revenue |
|  |  |  |  |  |  |  | Reportable Segment |  |  | Inter-segment |  |  | From external customers |
| South African transaction processing |  |  | $ | 20 350 |  | $ | 2 179 |  | $ | 18 171 |
| International transaction processing |  |  |  | 34 363 |  |  | - |  |  | 34 363 |
| Financial services |  |  |  | 21 986 |  |  | 440 |  |  | 21 546 |
|  | Total for the three months ended December 31, 2019 |  |  | $ | 76 699 |  | $ | 2 619 |  | $ | 74 080 |
| South African transaction processing |  |  | $ | 21 970 |  | $ | 1 167 |  | $ | 20 803 |
| International transaction processing |  |  |  | 38 124 |  |  | - |  |  | 38 124 |
| Financial services |  |  |  | 38 755 |  |  | 532 |  |  | 38 223 |
|  | Continuing |  |  |  | 19 047 |  |  | 532 |  |  | 18 515 |
|  | Discontinued |  |  |  | 19 708 |  |  | - |  |  | 19 708 |
|  |  | Total for the three months ended December 31, 2018 |  |  |  | 98 849 |  |  | 1 699 |  |  | 97 150 |
|  |  |  | Continuing |  | 79 141 |  |  | 1 699 |  |  | 77 442 |
|  |  |  | Discontinued | $ | 19 708 |  | $ | - |  | $ | 19 708 |
The reconciliation of the reportable segment’s revenue to revenue from external customers for the six months ended December 31, 2019 and 2018, is as follows:
|  |  |  |  |  |  |  | Revenue |
|  |  |  |  |  |  |  | Reportable Segment |  | Inter-segment |  | From external customers |
| South African transaction processing |  |  | $ | 39 749 |  | $ | 4 379 |  | $ | 35 370 |
| International transaction processing |  |  |  | 68 380 |  |  | - |  |  | 68 380 |
| Financial services |  |  |  | 52 131 |  |  | 1 045 |  |  | 51 086 |
|  | Total for the six months ended December 31, 2019 |  |  | $ | 160 260 |  | $ | 5 424 |  | $ | 154 836 |
| South African transaction processing |  |  | $ | 59 719 |  | $ | 4 453 |  | $ | 55 266 |
| International transaction processing |  |  |  | 77 511 |  |  | - |  |  | 77 511 |
| Financial services |  |  |  | 91 961 |  |  | 1 704 |  |  | 90 257 |
|  | Continuing |  |  |  | 53 466 |  |  | 1 704 |  |  | 51 762 |
|  | Discontinued |  |  |  | 38 495 |  |  | - |  |  | 38 495 |
|  |  | Total for the six months ended December 31, 2018 |  |  |  | 229 191 |  |  | 6 157 |  |  | 223 034 |
|  |  |  | Continuing |  | 190 696 |  |  | 6 157 |  |  | 184 539 |
|  |  |  | Discontinued | $ | 38 495 |  | $ | - |  | $ | 38 495 |
The Company does not allocate interest income, interest expense or income tax expense to its reportable segments. The Company evaluates segment performance based on segment operating income before acquisition-related intangible asset amortization which represents operating income before acquisition-related intangible asset amortization and allocation of expenses alloc ated to Corporate/Eliminations, all under GAAP. The reconciliation of the reportable segments measures of profit or loss to income before income taxes for the three and six months ended December 31, 2019 and 2018, is as follows:
|  |  |  |  | Three months ended |  |  | Six months ended |
|  |  |  |  | December 31, |  |  | December 31, |
|  |  |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
| Reportable segments measure of profit or loss | $ | (1 048) |  | $ | (34 411) |  | $ | 858 |  | $ | (23 860) |
|  | Less: Discontinued operations: reportable segments measure of profit or loss |  | - |  |  | (8 429) |  |  | - |  |  | (16 261) |
|  | Continuing operations: reportable segments measure of profit or loss |  | (1 048) |  |  | (42 840) |  |  | 858 |  |  | (40 121) |
|  | Continuing operations : Operating income: Corporate/Eliminations |  | (5 806) |  |  | (6 061) |  |  | (10 446) |  |  | (13 066) |
|  | Change in fair value of equity securities |  | - |  |  | (15 836) |  |  | - |  |  | (15 836) |
|  | Gain on disposal of FIHRST |  | 9 743 |  |  | - |  |  | 9 743 |  |  | - |
|  | Interest income |  | 1 343 |  |  | 2 177 |  |  | 1 994 |  |  | 3 778 |
|  | Interest expense |  | (3 221) |  |  | (2 563) |  |  | (4 576) |  |  | (5 121) |
|  | Impairment of Cedar Cellular Note |  | - |  |  | (2 732) |  |  | - |  |  | (2 732) |
|  |  | Income (Loss) before income taxes | $ | 1 011 |  | $ | (67 855) |  | $ | (2 427) |  | $ | (73 098) |
19. Operating segment s (continued) The following tables summarize segment information that is prepared in accordance with GAAP for the three and six months ended December 31, 2019 and 2018, with the impact of the deconsolidation of DNI included in discontinued operations:
|  |  |  |  |  |  |  |  |  | Three months ended |  |  | Six months ended |
|  |  |  |  |  |  |  |  |  | December 31, |  |  | December 31, |
|  |  |  |  |  |  |  |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
| Revenues |  |  |  |  |  |  |  |  |  |  |  |
|  | South African transaction processing | $ | 20 350 |  | $ | 21 970 |  | $ | 39 749 |  | $ | 59 719 |
|  | International transaction processing |  | 34 363 |  |  | 38 124 |  |  | 68 380 |  |  | 77 511 |
|  | Financial services |  | 21 986 |  |  | 38 755 |  |  | 52 131 |  |  | 91 961 |
|  |  |  | Continuing |  | 21 986 |  |  | 19 047 |  |  | 52 131 |  |  | 53 466 |
|  |  |  | Discontinued |  | - |  |  | 19 708 |  |  | - |  |  | 38 495 |
|  |  |  |  |  | Total |  | 76 699 |  |  | 98 849 |  |  | 160 260 |  |  | 229 191 |
|  |  |  |  |  |  |  | Continuing |  | 76 699 |  |  | 79 141 |  |  | 160 260 |  |  | 190 696 |
|  |  |  |  |  |  |  | Discontinued |  | - |  |  | 19 708 |  |  | - |  |  | 38 495 |
| Operating (loss) income |  |  |  |  |  |  |  |  |  |  |  |
|  | South African transaction processing |  | (2 981) |  |  | (11 830) |  |  | (6 366) |  |  | (15 343) |
|  | International transaction processing |  | 2 811 |  |  | (4 043) |  |  | 6 601 |  |  | (1 281) |
|  | Financial services |  | (878) |  |  | (18 538) |  |  | 623 |  |  | (7 236) |
|  |  |  | Continuing |  | (878) |  |  | (26 967) |  |  | 623 |  |  | (23 497) |
|  |  |  | Discontinued |  | - |  |  | 8 429 |  |  | - |  |  | 16 261 |
|  |  |  |  | Subtotal: Operating segments |  | (1 048) |  |  | (34 411) |  |  | 858 |  |  | (23 860) |
|  |  |  |  | Corporate/Eliminations |  | (5 806) |  |  | (8 664) |  |  | (10 446) |  |  | (18 319) |
|  |  |  |  |  | Continuing |  | (5 806) |  |  | (6 061) |  |  | (10 446) |  |  | (13 066) |
|  |  |  |  |  | Discontinued |  | - |  |  | (2 603) |  |  | - |  |  | (5 253) |
|  |  |  |  |  |  | Total |  | (6 854) |  |  | (43 075) |  |  | (9 588) |  |  | (42 179) |
|  |  |  |  |  |  |  | Continuing |  | (6 854) |  |  | (48 901) |  |  | (9 588) |  |  | (53 187) |
|  |  |  |  |  |  |  | Discontinued |  | - |  |  | 5 826 |  |  | - |  |  | 11 008 |
| Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
|  | South African transaction processing |  | 664 |  |  | 921 |  |  | 1 325 |  |  | 1 862 |
|  | International transaction processing |  | 1 481 |  |  | 2 511 |  |  | 3 377 |  |  | 5 570 |
|  | Financial services |  | 383 |  |  | 405 |  |  | 767 |  |  | 1 041 |
|  |  |  | Continuing |  | 383 |  |  | 346 |  |  | 767 |  |  | 695 |
|  |  |  | Discontinued |  | - |  |  | 59 |  |  | - |  |  | 346 |
|  |  |  |  | Subtotal: Operating segments |  | 2 528 |  |  | 3 837 |  |  | 5 469 |  |  | 8 473 |
|  |  |  |  | Corporate/Eliminations |  | 1 853 |  |  | 6 016 |  |  | 3 677 |  |  | 12 174 |
|  |  |  |  |  | Continuing |  | 1 853 |  |  | 3 413 |  |  | 3 677 |  |  | 6 921 |
|  |  |  |  |  | Discontinued |  | - |  |  | 2 603 |  |  | - |  |  | 5 253 |
|  |  |  |  |  |  | Total |  | 4 381 |  |  | 9 853 |  |  | 9 146 |  |  | 20 647 |
|  |  |  |  |  |  |  | Continuing |  | 4 381 |  |  | 7 191 |  |  | 9 146 |  |  | 15 048 |
|  |  |  |  |  |  |  | Discontinued |  | - |  |  | 2 662 |  |  | - |  |  | 5 599 |
| Expenditures for long-lived assets |  |  |  |  |  |  |  |  |  |  |  |
|  | South African transaction processing |  | 157 |  |  | 1 047 |  |  | 2 021 |  |  | 2 333 |
|  | International transaction processing |  | 616 |  |  | 841 |  |  | 1 293 |  |  | 1 641 |
|  | Financial services |  | 54 |  |  | 659 |  |  | 137 |  |  | 1 691 |
|  |  |  | Continuing |  | 54 |  |  | 475 |  |  | 137 |  |  | 1 368 |
|  |  |  | Discontinued |  | - |  |  | 184 |  |  | - |  |  | 323 |
|  |  |  |  | Subtotal: Operating segments |  | 827 |  |  | 2 547 |  |  | 3 451 |  |  | 5 665 |
|  |  |  |  | Corporate/Eliminations |  | - |  |  | - |  |  | - |  |  | - |
|  |  |  |  |  |  | Total |  | 827 |  |  | 2 547 |  |  | 3 451 |  |  | 5 665 |
|  |  |  |  |  |  |  | Continuing |  | 827 |  |  | 2 363 |  |  | 3 451 |  |  | 5 342 |
|  |  |  |  |  |  |  | Discontinued | $ | - |  | $ | 184 |  | $ | - |  | $ | 323 |
19. Operating segment s (continued) The segment information as reviewed by the chief operating decision maker does not include a measure of segment assets per segment as all of the significant assets are used in the operations of all, rather than any one, of the segments. The Company does not have dedicated assets assigned to a particular operating segment. Accordingly, it is not meaningful to attempt an arbitrary allocation and segment asset allocation is therefore not presented.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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