REDWOOD CITY, Calif. -- Verifone Inc.'s revenues rose 18%, or $10 million, in the first quarter, to $64.7 million. Net income was up less than 1%, to $4.2 million.
The point-of-sale systems company, which said it was on target with a 1994 growth plan, saw operating costs rise by 19%, or $9.3 million.
Hatim Tyabji, chairman, president, and chief executive officer, said blobal core businesses were up by 18%, contributing 83% of net revenues.
The U.S. financial-retail business increased 8.7% to $36.7 millin, or 57% of net revenues.