VeriFone Systems Inc. reported Tuesday that its net income surged 202% in its fiscal first quarter, which ended Jan. 31, from a year earlier.
The San Jose terminal maker's net income was $32 million. Its net revenue rose 27% to $284 million.
Douglas G. Bergeron, VeriFone's chief executive, said the company's future growth is tied to the adoption of mobile payments.
"We find ourselves at the epicenter of the mobile payments revolution and the key enabler of the integration of new payment methods with the world's existing payment infrastructure," Bergeron said in a press release.
