Heartland Payment Systems (HPY) Tops Q3 EPS by 3c

Heartland Payment Systems (NYSE: HPY) reported Q3 EPS of $0.68, $0.03 better than the analyst estimate of $0.65. Revenue for the quarter came in at $600.6 million, versus $557.1 million reported last year.

Heartland Payment Systems sees FY2014 EPS of $2.33-$2.3, versus the consensus of $2.37. Heartland Payment Systems sees FY2014 revenue of $665-670 million, versus the consensus of $659 million.

Robert O. Carr, Chairman and CEO, said, “Growth accelerated in the third quarter due in part to the momentum created by the strong increase in new business achieved over the past few quarters. New margin installed was another record this quarter, which not only contributed to the strong performance in the period, but will also help drive further top line acceleration in the future. We achieved record net revenue this quarter, which was built on solid transaction processing volume and strong non-card revenue growth. Non-card revenue growth was primarily organic, but was also aided by the acquisition of TouchNet, which closed in the quarter and is being quickly integrated. Furthermore, during the third quarter, we strengthened our sales organization through the net addition of 68 relationship managers, helping us move towards our goal for the year, and establishing a broader foundation to support continued growth. Through complementary acquisitions and internal new product development, we are positioning Heartland to capitalize on the growth opportunities being created by the big trends in our industry - security, mobility, and integrated solutions - and to create value for our shareholders."

For earnings history and earnings-related data on Heartland Payment Systems (HPY) click here.

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