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Heartland Payment Systems Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: HPY

Operating margins were the best in over 4 years at 22%, and indicative of the significant operating leverage we've been steadily building into this business. This was clearly an outstanding quarter. Today's results are the product of the strong platforms we have built in the card processing and adjacent businesses that leveraged our core processing competencies and unique sales organization. Our progress and success has been a joint effort of many loyal and dedicated team members. As our revenue staff and market penetration have grown, our management structure has been effective at adapting to our most pressing needs. Nevertheless, considering the significant opportunities in front of us, we have been reevaluating how we can expand, strengthen and better organize our leadership to capitalize on the growth opportunities we see emerging in our core and adjacent markets.

As we looked at our organizational structure, it became clear, that to capitalize on these opportunities and to continue our success in the payments arena, we needed to add to a senior management team that has become stretched to its limits. We started a process to look at our organization and what we needed to do to best position ourselves to expand our presence and increase our market share, both horizontally and vertically, within this expanding and evermore complex industry.

In recent years, we have promoted Bob Baldwin to President, added Maria Rueda, as our Chief Financial Officer, and Heidi Goff, as our Chief Marketing Officer. This past quarter, we've bolstered our executive leadership team with 4 new positions, designed to further expand Heartland's portfolio of merchants, products and services within key industries, and to extend the company's growth track record. We are committed to driving greater growth and profitability, and these executives will play extremely important roles in the company's future success. Each brings a breadth of skills and vast experiences that will help lead Heartland through the next stage of our development, so that we can become a multi-billion dollar company.

Read the rest of this transcript for free on seekingalpha.com

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