VeriFone Reports First Quarter Fiscal 2010 Results
finance.yahoo.com
Tuesday March 2, 2010
Net revenues for the three months ended January 31, 2010, were $223.4 million, compared to $217.8 million of net revenues in the previous quarter, and $214.0 million for the comparable period of 2009.
Non-GAAP gross margins were 39.2% for the three months ended January 31, 2010, compared to 37.9% in the prior quarter, and 35.2% for the comparable period of 2009. GAAP gross margins for the three months ended January 31, 2010, were 36.7%, compared to 34.8% in the prior quarter, and 32.4% for the three months ended January 31, 2009.
Non-GAAP net income per share, for the three months ended January 31, 2010, was $0.26 per diluted share, compared to $0.26 in the prior quarter, and $0.17 per diluted share for the comparable period in 2009.
GAAP net income per share for the three months ended January 31, 2010, was $0.12 per diluted share, compared to a loss of ($0.03) in the prior quarter, and a loss of ($2.16) per diluted share for the comparable period of fiscal 2009.
“I am pleased to report another strong quarter of financial results with excellent growth in both our International and North American segments,” said Douglas G. Bergeron, Chief Executive Officer. “We are making good progress with our transformational initiatives as they continue to gain traction and drive more of our business,” continued Bergeron. “In addition, we enjoyed a fourth consecutive quarter of excellent cash flow, generating $54 million in cash flow from operations, bringing our cash balances to a record $375 million at the end of the quarter.”
For the full year of fiscal 2010, VeriFone expects net revenues to be in the range of $925 million to $940 million. Non-GAAP net income per share is expected to be in the range of $1.00 to $1.10, for the same time period. |
