Edition:
United States

Verifone Systems says to reduce headcount and review underperforming businesses


Tuesday, 7 Jun 2016 04:02pm EDT 

Verifone Systems Inc : Qtrly GAAP net revenues of $526 million and non-GAAP net revenues of $532 million . Executing mitigating actions including a headcount restructuring and a review of underperforming businesses . Intends to reduce headcount and estimates that these activities in total will generate approximately $30 million of savings in 2017 . Sees Q3 non-GAAP net revenues of $515 million . Sees Q3 non-GAAP net income per diluted share of $0.40 . Sees FY non-GAAP net revenues of $2.100 billion . Sees FY non-GAAP net income per diluted share of $1.85 . Conducting strategic review to address underperforming businesses and reduce overall operating expense levels . Qtrly GAAP net revenue $526 million versus $490 million . FY earnings per share view $2.23, revenue view $2.16 billion -- Thomson Reuters I/B/E/S . Q3 earnings per share view $0.59, revenue view $551.7 million -- Thomson Reuters I/B/E/S . Q2 revenue view $530.1 million -- Thomson Reuters I/B/E/S . Verifone reports results for the second quarter of fiscal 2016 . Q2 non-GAAP earnings per share $0.47 . Q2 GAAP earnings per share $0.03 . Q2 earnings per share view $0.52 -- Thomson Reuters I/B/E/S .Sees FY 2016 revenue $2.1 billion.