VeriFone Systems Bid Lower Following Q3 Results

Shares of VeriFone Systems PAY are trading lower in the after-hours following the release of the company's Q2 earnings results. Currently, shares are off by 0.51%, trading at $46.90; they closed the regular session higher by 1.62%, at $47.14. VeriFone Systems said that Q2 EPS was $0.46 on an adjusted basis on revenues of $292.4 million. The company sees Q3 EPS in the range of $0.45-0.46, while revenues are seen in the range of $295-300 million. VeriFone Systems raised its FY 2011 guidance to $1.80-1.83 per share on revenues of $1.17-1.18 billion. "We are very pleased with VeriFone's second quarter results," said Douglas G Bergeron, Chief Executive Officer. "For the sixth straight quarter, revenue reached an all-time high, with growth once again exceeding 20%. Gross margins and operating margins continued to expand, highlighting the strength of our services-driven strategy." Bergeron added, "We have become the critical enablers of payment security, payment-enabled media, and smartphone-based payment at the point of sale, and together with our industry partners we are reshaping the future of payments." VeriFone Systems, Inc., formerly VeriFone Holdings, Inc., is a holding company for VeriFone, Inc. The company is engaged in the secure electronic payment solutions.