Hypercom Corp. reported Monday that it swung to a loss of nearly $3.5 million during the first quarter from a profit of $375,000 a year earlier.
The Scottsdale, Ariz., terminal maker's net revenue rose 20.7%, to $119.3 million.
Philippe Tartavull, Hypercom's chief executive, said in a press release that VeriFone Systems Inc.'s ongoing acquisition of most of Hypercom is on track to be completed in the second half of the year. Hypercom's U.S. payments systems business is being purchased by the French terminal maker Ingenico SA.
Earlier this year, Hypercom said VeriFone purchase would likely generate about $2 billion in revenue in 2012 after the acquisition is complete.
