Earnings Briefing - VeriFone Systems

LONDON, January 8, 2015 /PRNewswire/ --

Investor-Edge.com has issued free earnings coverage on VeriFone Systems Inc. (NYSE: PAY). On December 15, 2014, the company reported its Q4 FY14 and full-year FY14 financial results (period ended October 31, 2014). Click on http://www.investor-edge.com/FreeReports to read our free earnings review on VeriFone Systems Inc. (VeriFone). The company's GAAP net revenue for Q4 FY14 and FY14 increased 13.8% Y-o-Y and 9.8% Y-o-Y, respectively. Further, the gross margin as a percentage of net revenues for Q4 FY14 and FY14 improved 2.1 percentage points Y-o-Y and 0.9 percentage points Y-o-Y, respectively. The CEO of VeriFone, Paul Galant informed that Verifone had once again exceeded its guidance. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

During Q4 FY14, VeriFone's GAAP net revenue increased to $490.5 million from $431.2 million in Q4 FY13. The company's GAAP net revenue in Q4 FY14 outperformed Bloomberg analysts' forecasts of $482.7 million. For Q4 FY14, the company reported GAAP cash flow from operating activities of $51.6 million compared to $54.9 million in Q4 FY13. The free research on PAY can be downloaded as in PDF format at:

http://get.Investor-Edge.com/pdf/?c=VeriFone%20Systems&d=08-Jan-2015&s=PAY

For Q4 FY14, VeriFone's GAAP gross margin as a percentage of net revenues, stood at 40.1%, above 38.0% in comparable previous year quarter. In Q4 FY14, the company recorded GAAP net income attributable to stockholders of $31.1 million, or $0.27 per diluted share, compared to GAAP net loss attributable to stockholders of $247.7 million, or $2.26 loss per diluted share, in Q4 FY13. Analysts from Bloomberg had expected a GAAP net loss attributable to stockholders of $6.07 million, or $0.01 loss diluted per share, in Q4 FY14. Additionally, the company reported non-GAAP net income attributable to stockholders of $0.44 per diluted share in Q4 FY14, up 63% compared with non-GAAP net income attributable to stockholders of $0.27 per diluted share in Q4 FY13.

VeriFone's GAAP net revenue for FY14 totaled $1.87 billion, compared with $1.70 billion in FY13. The company's GAAP net revenue in FY14 came in slightly above Bloomberg analysts' forecasts of $1.86 billion. During FY14, the company reported GAAP cash flow from operating activities of $199.1 million compared to $236.5 million in FY13. Sign up and read the free analyst's notes on PAY at:

http://get.Investor-Edge.com/pdf/?c=VeriFone%20Systems&d=08-Jan-2015&s=PAY

During FY14, VeriFone's GAAP net loss attributable to stockholders stood at $38.1 million, or $0.34 loss per diluted share, compared to GAAP net loss attributable to stockholders of $296.1 million, or $2.73 loss per diluted share, in FY13. Bloomberg analysts had estimated a GAAP net loss attributable to stockholders of $75.9 million, or $0.32 loss diluted per share, in FY14. The company's non-GAAP net income attributable to stockholders for FY14 per diluted share was $1.51, slightly above the previous year non-GAAP net income attributable to stockholders of $1.44 per diluted share.

For FY15, the company expects non-GAAP net revenues in the range of $2.02 billion to $2.04 billion. VeriFone's non-GAAP net income per diluted share for FY15 is expected to in the range of $1.85 to $1.90. The company expects non-GAAP net revenues for Q1 FY15 to be between $480 million to $485 million with non-GAAP net income per diluted share of $0.40. Visit Investor-Edge and access the latest research on PAY at:

http://get.Investor-Edge.com/pdf/?c=VeriFone%20Systems&d=08-Jan-2015&s=PAY

Stock Performance  

On the day following the earnings release, December 16, 2014, VeriFone's stock surged 3.87%, to end the session at $34.34. The stock has moved both ways since then with gains outweighing losses so far. On the last close, Wednesday, January 07, 2014, the stock finished 1.04% higher at $36.88, after vacillating between $36.38 and $37.39. A total of 1.79 million shares were traded, which was below its three months average volume of 1.81 million shares. Over the last one month and over the previous three months, VeriFone's shares have gained 3.05% and 11.35%, respectively. Further, the stock has rallied 43.84% in the past one year. Shares in VeriFone closed above their 50-day and 200-day moving averages of $36.34 and $34.82, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 49.92.

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 12 insider transactions made by 3 individuals. Between December 18, 2014 and January 06, 2015, a total of 24,272 shares of the company have been purchased at an average price of $15.96 per share, for a total value of $387,472. During the same period, a total of 31,241 shares were also disposed at an average price of $36.95 per share, and for a total of $1.15 million. Between January 02 and January 06, 2015, Jennifer Miles, President- VeriFone Americas, bought a total of 14,272 shares at an average price of $13.14 per share and sold 16,525 shares at an average price of $36.75 per share. On December 18, 2014, Robert W. Alspaugh, Director at VeriFone, purchased 10,000 shares at $19.99 per share and sold an equal number of shares at $37.09 per share. On January 02, 2015, Marc E. Rothman, Executive Vice President and CFO at VeriFone, sold 4,716 shares at $37.35 per share. Complimentary in-depth research on PAY is available at:

http://get.Investor-Edge.com/pdf/?c=VeriFone%20Systems&d=08-Jan-2015&s=PAY

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