Heartland Payment Systems Q2 Profit Down - Quick Facts

(RTTNews) - Heartland Payment Systems (HPY) reported that its GAAP net income for the second-quarter ended June 30, 2014 declined to $17.5 million or $0.48 per share, from $19.7 million or $0.53 per share in the year ago quarter.

Adjusted net income was $21.0 million or $0.58 per share, compared to $23.1 million or $0.62 per share in the prior year quarter.

Total revenues were $582.86 million compared to $546.62 million last year.

The company reported quarterly net revenue of $159.4 million, up 6.4% from the second quarter of 2013. Same store sales rose 2.4% and volume attrition was 12.6% in this year's second quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share and revenues of $161.91 million for the quarter. Analysts' estimates typically exclude special items.

For full year 2014, the company expect net revenue to grow 8% to 10% to between approximately $645 million and $660 million, and adjusted earnings to be in the range of $2.33 - $2.37. Wall Street currently is looking for fiscal year 2014 earnings of $2.40 per share on annual revenues of $648.16 million.

The company also announced that on July 31, 2014, the Board of Directors declared a quarterly dividend of $0.085 per common share payable September 15, 2014 to shareholders of record on August 25, 2014.