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Investing

Traders Tiptoe Into VeriFone (PAY)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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VeriFone Holdings Inc. (NYSE: PAY) is finally getting a look from traders this morning after the company’s earnings report.  The earnings were not without problems, and the guidance was not something many would deem as a point of beauty.

But VeriFone may finally be deemed safe after more than a year’s worth of major problems at the payment processing company.  After a 90% drop over the last two years and with its house mostly in order, it looks like traders are starting to nibble here.

The  payment processing operator posted $0.17 EPS vs. $0.15 estimates.  Revenues were light at $214 million versus the $220.85 million consensus estimate.

Q2 earnings are expected to be $0.14 to $0.18 non-GAAP EPS vs. $0.18 estimates, while sales are expected to be $205 million to $215 million versus the consensus of $224.45 million. Fiscal 2009 also looks light at $0.60 EPS to $0.85 EPS on $830 million to $880 million  in revenue, while estimates are $0.80 EPS and $925.51 million in revenue.

Shares are indicated up almost 10% at $4.18 after closing as a $3.80 stock yesterday with a $320 million market cap.

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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