VeriFone Systems Rises on Q3 Earnings Results

Shares of VeriFone Systems

are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 0.86%, trading at $35.37; they ended the regular session higher by 0.78%, at $35.07. VeriFone Systems reported Q3 EPS of $0.49 on revenues of $317 million; the Street was looking for $0.46 per share on revenues of $299.1 million. Revenues increased 21.2% year over year. "With the acquisition of Hypercom, VeriFone is stronger than at any point in our 30-year history," said Douglas G. Bergeron, Chief Executive Officer. "We will continue to aggressively grow and develop innovative services and solutions in all regions of the world," Mr. Bergeron continued. "We are well on our way to driving significant operating synergies and gross margin expansion through the elimination of overlapping expenses and through business process re-engineering." VeriFone Systems, Inc., formerly VeriFone Holdings, Inc., is a holding company for VeriFone, Inc. The company is engaged in the secure electronic payment solutions. It provides solutions, and services for the financial, retail, hospitality, petroleum, transportation, government, and healthcare vertical markets.