Hypercom Corp. announced Wednesday a 400% rise in profit in its fourth quarter, which ended Dec. 31, from the same period in 2009.
The Scottsdale, Ariz., terminal maker said its net income for the quarter was $3.1 million. Its net revenue for the fourth quarter rose 20% to a record $140.7 million from a year earlier.
Hypercom said the increase in revenue came from the Asia-Pacific region, where revenue grew 65%; the Southern Europe, Middle East and Africa region, where revenue grew 24%; and the Americas, where revenue grew 15%.
Hypercom's full-year revenue grew 15% to $468 million from 2009. Its net income was $6.7 million, compared to a loss of $6.9 million the prior year.
Hypercom, which is in the process of being acquired by VeriFone Systems Inc., said it is still seeing demand for its products; an analyst suggested last month that its sales would drop as clients switch to VeriFone products in anticipation of the merger's completion.
"These strong results demonstrate the fundamental strength of our suite of products and services," said Philippe Tartavull, Hypercom's chief executive and president, in a press release.
