Interestingly, accounting principles and revenue recognition seemed not to have changed under the new CFO, Marc Rothman. This was a little surprising (although, yes, management has repeatedly denied it already) because one of the reason guidance was cut in the quarter was because certain revenues that they thought could be recognized in the quarter had to be deferred to subsequent quarters. The Jefferies analyst, the only one to ask a question about their accounting principles, asked the CFO on the call if they had any expectations in the near term to change their accounting policy and the CFO sounded pretty adamant in his reply that there was no near term expectation to change accounting policy.
Verifone Management Shows Conviction On Earnings Call; Stock Up 10% On Market Open
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