VeriFone Reports Fourth Quarter and Fiscal 2010 Results
finance.yahoo.com
Net revenues for the three months ended October 31, 2010, were $276 million, compared to $261 million of net revenues in the previous quarter and $218 million for the comparable period of 2009, a 27% year-over-year increase. Net revenues for the full year ended October 31, 2010, were $1,002 million, a 19% increase over the $845 million result for the full year ended October 31, 2009.
“In addition to reporting record revenue and profitability for the fourth quarter, we achieved many important financial milestones over the past year,” said Douglas G. Bergeron, Chief Executive Officer. “We surpassed the one billion dollar revenue mark and exited the year with non-GAAP gross margins at 40%. Our cash balances reached a record high of $445 million, completing another outstanding year of operating cash flow. As we now set our sights on growing to $2 billion in revenue, we are committed to building the payment industry's most important technology company. We will continue to develop unique services-based offerings while targeting double-digit growth rates and expanding our margin profile,” continued Bergeron. |
