(Recasts; adds details, share movement)
Aug 19 Electronic payment technology provider
VeriFone Holdings (PAY.N) forecast earnings for the last two
quarters of the year above market estimates, driven by growth
at its international operations, sending shares up as much as
32 percent in trading after the bell.
In a separate statement, VeriFone named Clinton Knowles as
its chief financial officer on an interim basis, replacing
Barry Zwarenstein, who resigned in April after a probe into the
company's inventory accounting errors.
For the third quarter, VeriFone expects earnings of 34
cents to 35 cents a share, before items, and revenue of $256
million to $258 million.
Earnings for the fourth quarter were projected in the range
of 36 cents to 39 cents a share, on similar basis, on revenue
of $260 million to $268 million.
Analysts expect earnings of 29 cents for the third quarter
and 31 cents a share for the fourth quarter, both before items,
according to Reuters Estimates.
The consensus revenue estimates are $248.9 million for the
third quarter and $256.1 million for the final one.
For the year ending Oct. 31, 2009, VeriFone sees adjusted
profit of $1.35 to $1.55 a share and revenue growth of 10
percnt to 15 percent. The market expectations are for profit of
$1.21 a share and revenue of $1.05 billion.
Shares of VeriFone, which also filed its restated financial
reports with the U.S. Securities and Exchange Commission
Tuesday, rose $4.77 to $19.50 in trading after the bell. They
had earlier closed at $14.73 Tuesday on Nasdaq.
(Reporting by Deepti Govind in Bangalore; Editing by Anil