- Though VeriFone (NYSE:PAY-OLD) beat FQ1 estimates, it's guiding for FQ2 revenue of $485M-$489M and EPS of $0.41-$0.42, below a consensus of $504.6M and $0.46. Likewise, FY15 (ends Oct. '15) guidance is for revenue of $1.99B-$2B and EPS of $1.78-$1.82, below a consensus of $2.03B and $1.90.
- With over 2/3 of revenue coming from outside North America, forex is unsurprisingly exacting a heavy toll: FQ1 revenue growth was 16.5% in constant currency, compared with 11.4% in actual dollars (non-GAAP). Latin American sales +15% in constant currency vs. +3.9% actual; EMEA +3.7% vs. -3.1%; Asia-Pac +27.5% vs. +24.1%. North American sales rose 31.4%.
- System solutions (hardware/software) revenue grew 20% to $313.4M; services fell 1.2% to $172.8M. Gross margin was flat at 42.4%, while cost controls led operating expenses to fall 0.4% to $176M. Free cash flow was $21.5M (compares with net income of $50.8M).
- PAY-OLD -2.1% AH to $32.50.
- FQ1 results, PR