IMGCAP(1)]
Hypercom Corp. yesterday reported net income of $1.3 million for the second quarter ended June 30. The point-of-sale terminal maker reported a net loss of $10.9 million for the same quarter last year, which it attributed, in part, to costs associated with a transition to contract manufacturing that included closing company-owned manufacturing operations. Revenue for the quarter totaled $106.8 million, a 14% decrease from $124.1 million a year ago. The impact of the stronger U.S. dollar on foreign-dominated revenue in Europe, Brazil and Australia was the primary cause for the drop in revenue, according to Scottsdale, Ariz.-based Hypercom. In North America, Hypercom's banking and independent sales organization business "continues to show momentum, and we expect this market segment to remain stable for the balance of the year," Philippe Tartavull, Hypercom president and CEO, said yesterday during a conference call with analysts. Hypercom also expects revenue to remain relatively constant throughout 2009 in the Asia/Pacific region, he said. Southern and Northern Europe posted lower revenue totals as well, while Latin America posted a revenue increase, according to Hypercom, which did not provide specific results for each region.
