SAN JOSE, Calif. (BUSINESS WIRE) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced financial results for the three months ended January 31, 2016.
“The Verifone team outperformed in Q1. We exceeded our guidance for revenue and earnings per share, and continue to deliver consistent organic growth,” said Paul Galant, Chief Executive Officer of Verifone. “The worldwide market for electronic payments is growing. At the same time, we are investing in innovation and executing on delivering our next generation devices and services. Verifone is well positioned for sustained, balanced growth across our businesses throughout the remainder of 2016 and beyond.”
First Quarter Financial Highlights
GAAP and NonGAAP net revenues of $514 million, NonGAAP growth of 5.5% reported and 12% on an organic constant currency basis
GAAP net income per share of $0.21
NonGAAP net income per diluted share of $0.48 Operating cash flow of $63 million
- GAAP and nonGAAP net revenues of $510 million
- GAAP net income per diluted share of $0.08
- NonGAAP net income per diluted share of $0.47
- Operating cash flow of $71 million
(1) Reconciliations for the nonGAAP measures are provided at the end of this press release.
Second Quarter and Fiscal Year 2016 Outlook
Guidance for the second fiscal quarter of 2016 is as follows:
- NonGAAP net revenues of $530 million
- NonGAAP net income per diluted share of $0.51 to $0.52
Guidance for the full fiscal year 2016 is as follows:
- NonGAAP net revenues of $2.150 billion to $2.170 billion
- NonGAAP net income per diluted share of $2.21 to $2.24
The full fiscal year 2016 guidance improvement reflects both betterthanexpected performance in Q1 and the partial-year contribution of revenues, as well as modest earnings per share accretion, from Verifone’s recent acquisitions of InterCard AG and AJB Software Design Inc.
Verifone’s second fiscal quarter 2016 guidance reflects the benefit from these recently closed acquisitions.
Verifone will hold its earnings conference call today, March 10th, at 1:30 pm (PT) / 4.30pm (ET). To listen to the call and view the slides, visit Verifone’s website http://ir.verifone.com. The recorded audio webcast will be available on Verifone's website until March 31, 2016.
Verifone is transforming everyday transactions into opportunities for connected commerce. We’re connecting payment devices to the cloud—merging the online and instore shopping experience and creating the next generation of digital engagement between merchants and consumers. We are built on a 30year history of uncompromised security with approximately 29 million devices and terminals deployed worldwide. Our people are known as trusted experts that work with our clients and partners, helping to solve their most complex payments challenges. We have clients and partners in more than 150 countries, including the world’s bestknown retail brands, financial institutions and payment providers.
Verifone.com | (NYSE: PAY) | @verifone
Download the complete earnings release