Post-Earnings Coverage - VeriFone Systems

LONDON, September 12, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on VeriFone Systems Inc. (NYSE: PAY). The company reported its financial results for Q3 FY14 on Thursday, September 04, 2014. During Q3 FY14, VeriFone Systems Inc.'s GAAP and non-GAAP net revenue, both increased 14% from last year and its non-GAAP net income per diluted share rose 67%, on a year-on-year basis. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview  

VeriFone Systems Inc.'s GAAP net revenue, during Q3 FY14, stood at $476 million, compared with $416 million, in the previous year quarter. However, on per share basis, the company's GAAP net loss widened to $0.26 per diluted share, from a net loss of $0.02 per diluted share, in Q3 FY13. While the company's net revenue outperformed Bloomberg analysts' forecasts of $459 million, the company's bottom line figures fell behind Bloomberg estimates. Analysts' had expected the company to report a net loss of $0.03 per diluted share, during Q3 FY14. On non-GAAP basis, the company reported net revenue of $476 million in Q3 FY14, compared to $418 million in the prior-year quarter. The company's Q3 FY14 revenues from System solutions and Services segments increased 19.4% and 6.8%, respectively on year-over-year basis. Further, VeriFone Systems Inc.'s non-GAAP net income during the reported quarter increased to $0.40 per share, from $0.24 per share, in the year ago quarter. The free research on PAY can be downloaded as in PDF format at:

www.Investor-Edge.com/PAYFreeReport

During Q3 FY14, the company launched a partnership with Gilbarco Veeder-Root to offer next generation EMV-capable forecourt payment solutions and the largest at-pump interactive digital media network worldwide. VeriFone Systems Inc. also upgraded 14 top US retailers to MX 900 EMV-capable platform, and received an order for 40,000 MX 900 terminals from one of the largest retailers in the world. In addition, the company expanded its terminal business in China and won a tender to provide more than 75,000 countertop, PIN pad and mobile devices to the world's largest bank.

Paul Galant, CEO of VeriFone, said that he is pleased with the company's financial results and its progress on business initiatives. According to him, the company has grown revenue and earnings sequentially for the last four quarters. Galant also stated that the management has been architecting VeriFone's next chapter strategy which will link its millions of powerful terminals and digital media screens into a commerce enablement network that helps its merchant clients acquire new consumers and increase sales with targeted offers, loyalty incentives, instant reward redemptions and other services.

VeriFone Systems Inc.'s management provided an outlook for Q4 FY 14 as well as for full year FY14. In its guidance for Q4 FY14, the company has forecasted non-GAAP net revenues to range from $478 million to $483 million, and Non-GAAP net income per diluted share to be in the range of $0.39 to $0.40. Further, the San Jose, California-based company has raised its guidance for FY14, and now expects non-GAAP net revenues in the range of $1,858 million to $1,863 million and non-GAAP net income per diluted share to be in the range of $1.46 to $1.47. Sign up and read the free analyst's notes on PAY at:

www.Investor-Edge.com/PAY-12092014

Stock Performance  

On the day of earnings release, September 04, 2014, shares in VeriFone Systems Inc. advanced 1.48%, ending the session at $35.05. The stock has gained a further 7.07% since then, and on the last trading session, Thursday, September 11, 2014, it closed at $37.53, moving closer to its 52-week high of $38.26. The stock vacillated between $36.72 and $37.64 during the trading session. A total of 2.45 million shares were traded, which was above its three months average volume of 1.32 million shares. Over the previous three trading sessions and over the last one month, the company's shares have gained 9.04% and 13.21%, respectively. Moreover, the stock has surged 39.93% from the beginning of 2014. Shares in VeriFone Systems Inc. are trading above their 50-day and 200-day moving averages of $34.93 and $31.76, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 70.46. Visit Investor-Edge and access the latest research on PAY at:

www.Investor-Edge.com/PAYEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, VeriFone Systems Inc. has reported two corporate insider trading transactions. On August 19, 2014, Mr. Bulent Ozayaz, President of VeriFone Southern Europe, Russia, Middle East and Africa, purchased 6,875 shares of the company, worth $118,181 at a price of $17.19 per share. On the same day, he disposed 17,045 shares at a price of $35.25 per share for a total amount of $600,836. Complimentary in-depth research on PAY is available at:

www.Investor-Edge.com/PAYInsiderTrading

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