VeriFone (PAY) Hit Amid Flat Q4 Results, Light Q1 Guidance
VeriFone Systems Inc. (NYSE: PAY) shares are getting hit in late trading Thursday following fourth-quarter results and outlook.
Revs rose 18.2 percent to $485.38 million, from $410.70 million in the same period last year. Amid the bump higher in revs, GAAP net income slipped over 86 percent to $27 million, or 24 cents per share. After adjusting for certain items, EPS was 76 cents.
Overall, the consensus was looking for revs of 494.8 million and EPS of 76 cents.
Adjusted gross margin narrowed 1 point to 44 percent.
Moving ahead, VeriFone said it would push ahead with its gas station media business via the VeriFone Digital Network (VNET). VNET will have "media-enabled payment systems and services provide a state-of-the-art solution for secure payments, targeted advertising, coupons and special offers, and delivering real-time, relevant information such as weather and safety warnings."
Looking to the first-quarter 2013, VeriFone said it sees revs of $490 million to $500 million and adjusted EPS of 70 cents to 73 cents. The Street was expecting revs of $498.55 million and EPS of 75 cents.
The outlook for fiscal 2013 remained the same.
Shares of VeriFone are down 7 percent in after-hours trading.
Revs rose 18.2 percent to $485.38 million, from $410.70 million in the same period last year. Amid the bump higher in revs, GAAP net income slipped over 86 percent to $27 million, or 24 cents per share. After adjusting for certain items, EPS was 76 cents.
Overall, the consensus was looking for revs of 494.8 million and EPS of 76 cents.
Adjusted gross margin narrowed 1 point to 44 percent.
Moving ahead, VeriFone said it would push ahead with its gas station media business via the VeriFone Digital Network (VNET). VNET will have "media-enabled payment systems and services provide a state-of-the-art solution for secure payments, targeted advertising, coupons and special offers, and delivering real-time, relevant information such as weather and safety warnings."
Looking to the first-quarter 2013, VeriFone said it sees revs of $490 million to $500 million and adjusted EPS of 70 cents to 73 cents. The Street was expecting revs of $498.55 million and EPS of 75 cents.
The outlook for fiscal 2013 remained the same.
Shares of VeriFone are down 7 percent in after-hours trading.