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03/03/2010 -
VeriFone, one of the leading global providers of POS terminals, reported Wednesday that its net revenues for the fiscal first quarter of 2010 rose to US$223.4 million, compared to US$217.8 million in the previous quarter and US$214 million in the first quarter of 2009. In addition, non-GAAP net income per share held steady at last quarter's US$0.26 per diluted share, though it marks an improvement over the US$0.17 seen in the first quarter of 2009.
VeriFone's cash flow may be the most notable of its fiscal results figures, hitting US$54 million in cash flow from operations - this brings its cash balances at the end of the first quarter 2010 to a record US$375 million.
"I am pleased to report another strong quarter of financial results with excellent growth in both our international and North American segments," said Douglas G. Bergeron, VeriFone CEO. "We are making good progress with our transformational initiatives as they continue to gain traction and drive more of our business."
VeriFone's fiscal results were likely a result of both the increased use of electronic payment processing methods, but also because of its recent acquisition of the Clear Channel Taxi Media Business, enabling the company to provide in-taxi digital advertising content.
