VeriFone Systems Ticks Lower Following Q4 Earnings
December 14, 2011 5:09 PM
Shares of VeriFone Systems (NYSE: PAY) are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 1.36%, trading at $40.00; they ended the regular session lower by 3.01%, at $40.55.
VeriFone Systems reported Q4 EPS of $0.53 on revenues of $416 million. Revenues increased 51% year over year. Non-GAAP gross margins were 40% for Q4 FY11, compared to 43% in the prior quarter and 40% in Q4 FY10.
"We finished 2011 with another year of record revenues and record profit, and are now midway through our multi-year transformation to the world's leading services-driven payment technology provider," said Douglas G. Bergeron, Chief Executive Officer.
"Looking to 2012, we are very encouraged by the opportunities at hand throughout our growing, global marketplace."
The company sees Q1 2012 revenues in the range of $415-420 million. Non-GAAP net income per diluted share is projected to range from $0.50 to $0.52.
VeriFone Systems, Inc., formerly VeriFone Holdings, Inc., is a holding company for VeriFone, Inc. The company is engaged in the secure electronic payment solutions.
