VeriFone Q4 Results Top Estimates

(RTTNews) - VeriFone Systems, Inc. (PAY) reported net income for the fourth quarter of $31.1 million or $0.27 per share, compared to a net loss of $247.7 million or $2.26 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $50.1 million or $0.44 per share, compared to $30.3 million or $0.27 per share in the prior year quarter.

Net revenue for the fourth quarter rose 14% to $490.5 million from $431.2 million a year earlier, while adjusted net revenue increased 13% to $490.7 million from $432.3 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $483.42 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecast adjusted net revenues of $480 million to $485 million and adjusted earnings of $0.40 per share. Analysts currently expect the company to earn $0.45 per share on revenue of $482.94 million for the first quarter.

For the fiscal year 2015, the company forecasts net revenues of $2.02 billion to $2.04 billion and adjusted earnings of $1.85 to $1.90 per share. Analysts currently expect the company to earn $1.97 per share on revenue of $2.03 billion for the fiscal year 2015.