VeriFone tops Street 4Q forecasts
VeriFone Systems on Monday reported fiscal fourth-quarter earnings of $31.1 million.
On a per-share basis, the San Jose, California-based company said it had profit of 27 cents. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The maker of terminals for electronic payments posted revenue of $490.5 million in the period, also beating Street forecasts. Analysts expected $484.4 million, according to Zacks.
For the current quarter ending in January, VeriFone expects its per-share earnings to be 40 cents.
The company said it expects revenue in the range of $480 million to $485 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $483.6 million.
VeriFone expects full-year earnings in the range of $1.85 to $1.90 per share, with revenue ranging from $2.02 billion to $2.04 billion.
VeriFone shares have increased 23 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.06, an increase of 35 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. PAY stock research report from Zacks.
Keywords:VeriFone Systems,Earnings Report