VeriFone Systems, Inc Q2 Income Drops 36%

(RTTNews) - VeriFone Systems, Inc (PAY) released earnings for second quarter that lost ground compared to the same period last year.

The company said its earnings came in at $33.3 million, or $0.30 per share. This was lower than $51.9 million, or $0.47 per share, in last year's second quarter.

Analysts had expected the company to earn $0.30 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.9% to $474 million. This was down from $532 million last year.

VeriFone Systems, Inc earnings at a glance:

-Earnings (Q2): $33.3 Mln. vs. $51.9 Mln. last year. -Earnings Decline (Y-o-Y): -35.8% -EPS (Q2): $0.30 vs. $0.47 last year. -EPS Decline (Y-o-Y): -36.2% -Analysts Estimate: $0.30 -Revenue (Q2): $474 Mln vs. $532 Mln last year. -Revenue Change (Y-o-Y): -10.9%

-Guidance: Next quarter EPS guidance: $0.35 - $0.36 Next quarter revenue guidance: $463 - $465 Mln Full year EPS guidance: $1.32 - $1.34 Full year revenue guidance: $1.861 - $1.866 Bln