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VeriFone Systems Inc Lowers Q1 2013 Guidance; Issues Q2 2013 Guidance Below Analysts' Estimates; Comments On Q3, Q4 2013 Guidance; Comments On FY 2014 Revenue Guidance


Wednesday, 20 Feb 2013 04:00pm EST 

VeriFone Systems Inc announced that for first quarter of 2013, it expects to report non-GAAP net revenues in the range of $425-$430 million and GAAP net revenues in the range of $424-$428 million. The Company expects to report non-GAAP net income per share between $0.47 and $0.50 and GAAP net income per share between $0.07 and $0.10. The lower than expected results for the first quarter were driven primarily by continued weak macro-economic conditions in Europe, lower than anticipated revenue from Brazilian customers, several customers electing to delay major projects beyond the first quarter, as well as the cancelled Washington, D.C. taxi project. For second quarter of 2013, it expects non-GAAP net revenues in the range of $435 million to $450 million, non-GAAP net income per share in the range of $0.45 to $0.50. The Company expects that non-GAAP net revenues and non-GAAP net income per share will grow sequentially in the third and fourth quarters of fiscal 2013. The Company also expects year-over-year net revenue growth in the mid- to high-single digits for fiscal 2014. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $489 million and EPS of $0.71 for first quarter of 2013; revenue of $514 million and EPS of $0.80 for second quarter of 2013; revenue of $531 million and EPS of $0.86 for third quarter of 2013; revenue of $538 million and EPS of $0.88 for fourth quarter of 2013; revenue of $2.28 billion for fiscal 2014. 

Company Quote

36.62
-0.61 -1.64%
19 Sep 2014