Verifone Systems, Inc. (NYSE:PAY)’s First Quarter Report For The Financial Year 2014

by James Karedelli | Thursday, Mar 13, 2014 | 563 views

Boston, MA, 03/13/2014 – Verifone Systems, Inc. (NYSE:PAY), which is one of the leading companies in electronic payment solutions, has announced the first quarter report for the year 2014. The first quarter, which ended on January 31, 2014saw a significant rise in the financial strength of the company as compared to the last quarter. The revenues collected in these three months was calculated $436 million as compared to $429 million, exactly a year ago. This is an increase of 2% within a time period of 12 months. The net loss per diluted shares was calculatead at $0.15 as compared to $0.11 for last year.

As quoted by the chief Executive Officer of Verifone, “our first quarter financial results exceeded our guidance, and I am pleased with our progress in our operational initiatives launched in Q1.”

Business highlights

  • Record Non- GAAP revenues of $176 million achieved
  • Term B debt of $ 48 million extinguished and improvement in cash conversion cycle
  • Continued regional growth of the company
  • Introduction of the taxi-top advertising in the New York market
  • Increase in installed base of U.S.

Verifone Systems, Inc. (NYSE:PAY) has also reported certain guidance for the next fiscal quarter, which has been aimed at the following:

  • Increase the non-GAP revenues to $445 million from $440 million
  • Increase in the net income for every diluted share to $0.32 from $0.30

In addition to the guidance for the second fiscal quarter for the year 2014, the company has also announced the guidance for the full year 2014. This guidance has been pointed out as:

  • To reach the net income extent of $1.40 per diluted share, Non-GAAP
  • To increase the Non-GAAP net revenues to $1,810 million from $1,780 million

Verifone Systems, Inc. (NYSE:PAY) has also announced a conference call for the investors.

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