VeriFone Systems Inc.'s fiscal fourth-quarter revenue rose 27% from a year earlier to $276 million, the San Jose payments terminal maker said.
The company, which recently entered an agreement to buy Scottsdale, Ariz., rival Hypercom Corp., for $485 million, said its net income for the quarter ended Oct. 31 was $49.4 million compared with a net loss of $2.2 million a year earlier.
Its earnings per diluted share reached 55 cents, up from a net loss of 3 cents per diluted share a year earlier.
For the fiscal year, VeriFone's revenue grew 19% from a year earlier to $1 billion.
"As we now set our sights on growing to $2 billion in revenue, we are committed to building the payment industry's most important technology company," Douglas Bergeron, VeriFone's chief executive, said in a press release.
