VeriFone Systems Q4 Earnings In Focus (PAY)

(RTTNews) - VeriFone Systems, Inc. (PAY), a payments and commerce solutions provider, is scheduled to report fourth-quarter results on December 12.

The company expects to report earnings in line with analysts' estimates at $0.43 per share. It projects revenues of $470 million to $473 million vs. the consensus estimate of $472.46 million.

Although Verifone is still a formidable name in the payments industry, it is beginning to feel the pinch of competition from upstart rivals in China and India. The quarterly report on Tuesday will focus on the current status of the company's restricting initiatives, expected to save it $30 million this year.

In the current quarter, the company has widened its horizons by launching two payment devices in South Korea. It also made progress in its non-core businesses like Verifone Taxi Solutions, by collaborating with Alipay, a leading Chinese third-party payment platform.

The full-year earnings outlook is at $1.30 per share, matching with analysts' estimates. Revenue for the year is expected in the range of $1.867 billion to $1.870 billion vs. analysts' estimate of $1.87 billion.