VeriFone's Latin American revenues up 23% y-o-y in fiscal Q3

Wednesday, September 7, 2011

US electronic payments company VeriFone's (NYSE: PAY) Latin American revenues grew 23% in fiscal Q3, ended July 31, compared to the year-ago period, company CEO Doug Bergeron said during a conference call with investors.

"Latin American sales were at record levels, with strengths in all markets across the region," the executive said.

"We enjoyed continued success in Brazil, where we offer leading-edge solutions in a growing economy. Banorte in Mexico selected VeriFone as its sole provider for the year. In Colombia, we shipped significant volumes of VX Evolution systems," Bergeron added.

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The company posted global net profits of US$26.3mn in the fiscal third quarter, compared to US$18.5mn in the year-ago period, while total revenues reached US$317mn, climbing 21.2% year-on-year, VeriFone said in its earnings statement.

For fiscal Q4, VeriFone expects to report net revenues in the range of US$395mn-400mn.