VeriFone Systems Inc. (NYSE: PAY) reported adjusted fourth-quarter and full-year 2014 results after markets closed Monday. For the quarter, the electronic payments company reported adjusted earnings per share (EPS) of $0.44 on $490.5 million in revenues. In the same period a year ago, the company reported adjusted EPS of $0.27 on revenue of $431.2 million. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.41 and $483.42 million in revenue.

On a GAAP basis, the company posted fourth-quarter EPS of $0.27, which excludes stock-based compensation and restructuring charges among other items.

VeriFone reported full-year adjusted EPS of $1.51 on revenues of $1.87 billion, compared with 2013 results of $1.44 in EPS and revenues of $1.71 billion. Consensus estimates called for EPS of $1.48 on revenues of $1.86 billion.

For the first fiscal quarter of 2015, VeriFone guided adjusted revenues in a range of $480 million to $485 million and adjusted EPS of $0.40. Consensus estimates called for EPS of $0.45 on revenues of $482.94 million.

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For the coming fiscal year VeriFone forecast revenues at $2.02 billion to $2.04 billion and EPS at $1.85 to $1.90. The consensus estimates called for revenues of $2.03 billion and EPS of $1.97.

The company’s CEO said:

We are executing and winning back share by helping our clients to improve their security, upgrade to EMV [chip payment cards] in the U.S., and take advantage of advances in mobility and digital commerce. We are halfway through our transformation initiative and are now a more nimble and focused company.

At the beginning of its 2013 fiscal year in November 2012, VeriFone forecast full-year EPS of $3.25 to $3.30. The actual result — $1.44 — cost the former CEO his job before the year was even finished. The company may have scaled back its plans, but the stock price is up nearly 33% in the past 12 months and up from the bottom of the trough in June of 2013 by 45%.

The company’s shares were up nearly 3.5% in after-hours trading at $34.09. The current 52-week range is $22.60 to $38.26 and the stock closed Monday at $33.06. Thomson Reuters had a consensus analyst price target of $39.00 before the results were announced.

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