Proprietary Report with Analysis on CPI Card Group Payments-Related Performance.
EMV (chip cards) demand destroyed
CPI Card Group (CPI) in the first quarter (1Q/17), as gross revenue fell 35.2%, and with a $4.5 million loss.
CPI says product net sales decreased primarily due to a decline in EMV chip cards sold and EMV card average selling prices. Services net sales decreased 16.5% year-over-year to $26.2 million, predominantly driven by declines in U.S. Prepaid Debit Segment sales and card personalization and fulfillment services revenue.
CPI posted an 35.2% YOY decline in gross revenue for the first quarter to . . .