VeriFone (PAY) Shares Rise Following Solid Q2 Report, FY11 Outlook
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Price: $35.60 -1.08%
Financial Fact:
Operating income: -22.35M
Today's EPS Names:
RIBT, INLB, FTXP, More
Financial Fact:
Operating income: -22.35M
Today's EPS Names:
RIBT, INLB, FTXP, More
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Shares of VeriFone (NYSE: PAY) are up nearly 3 percent in after-hours trade Thursday following strong second-quarter results and guidance which was slightly ahead of the Street. VeriFone shares last traded at $48.26.
Net income during the quarter was up more than 24 percent from $20.23 million in the same quarter last year to $25.20 million. Earnings per share totaled 46 cents, up 7 percent from last quarter and 59 percent from the 29 cents posted during year-ago quarter.
Revenue came in at $292 million, up about 3 percent from the first quarter and 21 percent on a year-over-year basis. VeriFone noted sales to its Services segment grew from the same quarter last year at more than twice the rate of Systems sales.
Analysts on the Street had been looking for quarterly earnings of 43 cents per share on sales of $285.4 million.
"We are very pleased with VeriFone's second quarter results," said Douglas Bergeron, CEO. "For the sixth straight quarter, revenue reached an all-time high, with growth once again exceeding 20%. Gross margins and operating margins continued to expand, highlighting the strength of our services-driven strategy." Bergeron added, "We have become the critical enablers of payment security, payment-enabled media, and smartphone-based payment at the point of sale, and together with our industry partners we are reshaping the future of payments."
VeriFone offered some guidance:
Net income during the quarter was up more than 24 percent from $20.23 million in the same quarter last year to $25.20 million. Earnings per share totaled 46 cents, up 7 percent from last quarter and 59 percent from the 29 cents posted during year-ago quarter.
Revenue came in at $292 million, up about 3 percent from the first quarter and 21 percent on a year-over-year basis. VeriFone noted sales to its Services segment grew from the same quarter last year at more than twice the rate of Systems sales.
Analysts on the Street had been looking for quarterly earnings of 43 cents per share on sales of $285.4 million.
"We are very pleased with VeriFone's second quarter results," said Douglas Bergeron, CEO. "For the sixth straight quarter, revenue reached an all-time high, with growth once again exceeding 20%. Gross margins and operating margins continued to expand, highlighting the strength of our services-driven strategy." Bergeron added, "We have become the critical enablers of payment security, payment-enabled media, and smartphone-based payment at the point of sale, and together with our industry partners we are reshaping the future of payments."
VeriFone offered some guidance:
- third-quarter EPS of 45-46 cents, vs. the consensus of 45 cents
- third-quarter sales of $295-$300 million, vs. the consensus of $294.6 million
- full year 2011 pro-forma EPS of $1.80-$1.83, vs. the consensus of $1.81
- full year 2011 sales of $1.17-$1.18 billion, vs. the consensus of $1.17 billion
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