When Verifone Systems Inc. (NYSE: PAY) reported its fiscal fourth-quarter financial results after the markets closed on Monday, the company said it had $0.30 in earnings per share (EPS) and $464 million in revenue. Consensus estimates had called for EPS of $0.35 and $470.1 million in revenue. The same period of last year reportedly had $0.48 in EPS and revenue $513.6 million.
Revenues for this quarter totaled roughly $264 million for the Systems segment and about $200 million for the Services segment.
In terms of guidance for the fiscal first quarter, the company expects to see $0.20 in EPS and $450 million in revenue. The consensus estimates are EPS of $0.41 and $494.32 million in revenue for that period.
On the books, Verifone’s cash and cash equivalents totaled $148.4 million at the end of the quarter, down from $208.9 million at the end of the previous fiscal year.
Paul Galant, CEO of Verifone, commented:
Our fourth quarter results were better than our outlook on both the top and bottom line. Total revenues were consistent with our expectations of EMV-related demand in the U.S., we reported 16% growth in Services revenues from both acquisitions and organic business, and we saw good growth in EMEA and Latin America as a result of several important competitive wins. There is significant opportunity ahead for our business as we move through the many cash to cashless migrations that are happening across the globe, and I am looking forward to addressing our customers’ evolving needs with our newest device platform as we launch pilots, obtain certifications and begin generating more meaningful sales volumes in 2017.
Shares of Verifone closed Monday at $16.44, with a consensus analyst price target of $19.68 and a 52-week trading range of $14.94 to $29.73. The stock was down about 5% at $15.58 in early trading indications Tuesday.
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