VeriFone Reports 3Q Profit, Versus Year-ago Loss

SAN JOSE, Calif. (AP) — VeriFone Holdings Inc., which provides electronic payment services, said Tuesday it recorded a fiscal third-quarter profit of $21.9 million, compared with a year-earlier loss, even as sales slid 18 percent.

The profit for the three months ended July 31 was equivalent to 26 cents a share, compared with a loss of $7.2 million, or 9 cents a share, in the year-earlier period.

Revenue in the quarter dropped to $211.2 million from $258.7 million a year earlier.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, were expecting third-quarter earnings of 18 cents a share on revenue of $202.2 million.

For the fourth quarter ending Oct. 31, VeriFone now expects to report revenue in the range of $208 million to $215 million. Adjusted net income per share is now projected to be in the range of 23 cents to 25 cents.

For the full year of fiscal 2009, VeriFone expects revenue to be in the range of $835 million to $842 million. Adjusted profit per share is expected to be in the range of 83 cents to 85 cents.

Analysts were expecting fourth-quarter earnings of 19 cents a share on revenue of $202.6 million and full-year earnings of 70 cents a share on revenue of $821.3 million.