Heartland Payment Posts Wider Loss Than Expected
Stock quotes in this article:
HPY
PRINCETON, N.J. (AP) Heartland Payment Systems Inc. said Tuesday that it will take a wider third-quarter loss than previously disclosed because of settlements related to a security breach.
The company said its net loss came to $37.1 million, or 99 cents per share. On Nov. 3, before certain settlement offers were made, Heartland reported a net loss of $13.6 million, or 36 cents per share. In the year-ago quarter, the company earned $13.4 million, or 35 cents per share. In January, Heartland said criminals had installed spying software in its computers and stole data from its network. The company processes 100 million transactions a month for business customers. Excluding costs associated with the security breach, earnings in the most recent quarter came to $8.7 million, or 23 cents per share. Heartland shares rose 10 cents to $12.15 in afternoon trading.- Loading Comments...
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