VeriFone Q2 Results Top Estimates

(RTTNews) - VeriFone Systems, Inc. (PAY) reported net income for the second quarter of $17.6 million or $0.15 per share, compared to a net loss of $23.9 million or $0.22 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $50.9 million or $0.44 per share, compared to $41.6 million or $0.37 per share in the prior year quarter.

Net revenues for the second quarter rose 5.1% to $490.1 million from $466.4 million a year ago, while adjusted net revenues increased 5% to $490.3 million from $466.8 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.42 per share on revenue of $489.09 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts adjusted net revenues of $495 million to $500 million and adjusted earnings of $0.44 to $0.46 per share. Analysts currently expect the company to earn $0.46 per share on revenue of $501.41 million for the third quarter.

For the fiscal year 2015, the company now forecasts adjusted net revenues of $1.995 billion to $2.0 billion and adjusted earnings of $1.81 to $1.84 per share. Previously, the company forecast adjusted net revenues of $1.990 billion to $2.0 billion and adjusted earnings of $1.78 to $1.82 per share. Analysts currently expect the company to earn $1.83 per share on revenue of $2.00 billio for the fiscal year 2015.