Hypercom Corp. generated nearly a 400% rise in profit during the fourth quarter ended Dec. 31 compared with the same period in 2009, the terminal maker announced March 2.
Net income for the quarter was $3.1 million, up from $624,000 a year earlier. Net revenue rose 19.8% to a record $140.7 million from $117.4 million, the Scottsdale, Ariz.-based company said.
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. Net income for the year was $6.7 million; it reported a loss of $6.9 million in 2009.
Hypercom, which is in the process of being acquired by VeriFone Systems Inc., said it is still seeing demand for its products. “These strong results demonstrate the fundamental strength of our suite of products and services,” Philippe Tartavull, Hypercom’s chief executive and president, said in a press release.
