Traders Tiptoe Into VeriFone (PAY)
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…
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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
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