VeriFone Systems Slips To Loss In Q3; Issues Q4 Outlook - Quick Facts

(RTTNews) - VeriFone Systems, Inc. (PAY) reported third-quarter net loss attributable to the company stockholders of $1.9 million, or $0.02 per share, compared to net income of $37.7 million, or $0.34 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the third quarter were $0.24, compared with $0.75 in the prior year quarter.

Net revenue for the latest third quarter declined to $416.0 million from $489.0 million a year ago, while adjusted net revenue was $417.5 million, down from $493.2 million last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.20 per share on revenue of $400.83 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, VeriFone forecast adjusted earnings of about $0.25 per share and adjusted net revenues of $418 million to $422 million. Analysts currently expect the company to earn $0.25 per share on revenue of $411.85 million for the fourth quarter.