VeriFone Holdings, Inc. (PAY) Message Board

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Technology Stocks : VeriFone Holdings, Inc. (PAY)

PAY 28.60

+0.3%

Oct 31 9:30 AM EDT

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From: JakeStraw	9/1/2016 4:20:43 PM
	of 186

Verifone Reports Results for the Third Quarter of Fiscal 2016 and Updates Outlook for Full Year finance.yahoo.com Third Quarter Financial Highlights GAAP net revenues of $488 million and Non-GAAP net revenues of $493 million GAAP net loss per diluted share of $0.28 Non-GAAP net income per diluted share of $0.42 Operating cash flow of $13 million "We made real progress during the third quarter in further repositioning Verifone, building our services business and bringing our new devices to market. Despite this progress, Q3 was a challenging quarter for Verifone on revenues. We moved decisively to reduce our cost structure, and those initial efforts helped us exceed our revised EPS target,” said Paul Galant, Chief Executive Officer of Verifone. "We are managing through what we believe are difficult but temporary local market and lingering EMV adoption issues. Our outlook for Q4 now assumes a significantly slower EMV rollout, and we are projecting fiscal year 2017 consolidated revenues to be approximately 3% below fiscal year 2016 levels. That said, we are relentlessly executing the long-term vision for Verifone to transform from a box shipper to a services provider.”

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