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VeriFone Reports Surging Sales and Profitability

Tuesday 28 October 2003 01:15 CET | News

VeriFone has announced that revenues and profits for the one-year period ending October 31, 2003 are expected to soundly beat previous expectations established by management and its financial sponsors.

Revenues for the quarter ending October 31, 2003 are now expected to be $90 million, a 12% increase over the same period a year ago. Revenues for the year ending October 31, 2003 are now expected to exceed $335 million, an over 8% increase over the same period last year. The company also expects that EBITDA will exceed $50 million in the year ending October 31, 2003. VeriFones solutions are best positioned for the accelerating international marketplace where EMV and security mandates are resulting in terminal upgrades. Domestic growth is being driven by the rapid increase in debit card usage, the accelerating pace of broadband acceptance, and the proven value proposition of combining payment with value-added applications including gift cards, prepaid telco cards and electronic check conversion.


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Categories: Payments & Commerce | Payments General
Countries: World
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