--> PAY +3,32% in After Hours
- Reports Q2 (Apr) earnings of $0.37 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.32; revenues rose 8.6% year/year to $467 mln vs the $443.42 mln consensus.
- Co issues downside EPS guidance for Q3, sees EPS of $0.33-0.34, excluding non-recurring items, vs. $0.37 Capital IQ Consensus Estimate; sees Q3 revs of $455-460 mln vs. $453.82 mln Capital IQ Consensus Estimate.
- Co issues in-line EPS guidance for FY14, sees EPS of $1.42-1.44 vs. $1.43 Capital IQ Consensus Estimate; sees FY14 revs of $1.825-1.835 bln vs. $1.8 bln Capital IQ Consensus Estimate.
>>> Transformation Initiatives
- In April and June of 2014, VeriFone approved restructuring plans in order to support its transformation initiatives. In connection with these restructuring plans, the company will reduce headcount by approximately 500 by calendar year end 2014. VeriFone expects to reinvest a substantial portion of the savings from these actions to improve its operational infrastructure and invest in its strategic growth initiatives.