VeriFone Systems, Inc Announces 57% Fall In Q1 Bottom Line

(RTTNews) - VeriFone Systems, Inc (PAY) reported a profit for first quarter that declined from last year.

The company said its bottom line dropped to $23.2 million, or $0.21 per share. This was lower than $53.7 million, or $0.48 per share, in last year's first quarter.

Analysts had expected the company to earn $0.20 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 11.1% to $456.7 million. This was down from $513.6 million last year.

VeriFone Systems, Inc earnings at a glance:

-Earnings (Q1): $23.2 Mln. vs. $53.7 Mln. last year. -Earnings Decline (Y-o-Y): -56.8% -EPS (Q1): $0.21 vs. $0.48 last year. -EPS Decline (Y-o-Y): -56.2% -Analysts Estimate: $0.20 -Revenue (Q1): $456.7 Mln vs. $513.6 Mln last year. -Revenue Change (Y-o-Y): -11.1%

-Guidance: Next quarter EPS guidance: $0.29 Next quarter revenue guidance: $470 - $474 Mln Full year EPS guidance: $1.35 to $1.39 Full year revenue guidance: $1.900 - $1.915 Bln