Ingenico SA generated $976.3 million (691.4 million euros) in revenue in 2009, a 5% decrease from $1.03 billion the previous year, according to preliminary financial results the France-based point-of-sale terminal maker released yesterday. Ingenico’s preliminary results do not include net-income figures.
Fourth-quarter revenue also dropped, by 11.8%, to $279 million from $316.5 million during the same period in 2008.
In a research note issued today, Gil Luria, an analyst with Los Angeles-based Wedbush Securities, says Ingenico’s fourth-quarter revenue was “in line with expectations.” Ingenico is a “market winner in an attractive segment,” he wrote.
Full-year revenue was mixed among the regions in which Ingenico has terminals. North America revenue was down 2.8%, to $144.3 million from $148.4 million in 2008. Revenue from Northern Europe fell 1.3%, to $149.1 million from $151.1 million.
The Eastern Europe, Africa and Middle East region, however, for the year experienced the largest revenue decrease, 22.8%, to $145.7 million from $188.7 million.
The most revenue growth occurred in Southern Europe, 7.4%, to $256.1 million from $238.4 million. Ingenico says strong sales in France and “good performance” in Spain aided the region.
China/Asia Pacific revenue grew 5.2%, to $97.8 million from $93 million. And in Latin America, revenue increased 0.3%, to $184.1 million from $183.6 million.
Ingenico expects growth in each region this year. Luria, who expects more details on this expectation from Ingenico’s final annual results scheduled for release in March, says the United States remains “a lucrative opportunity” for Ingenico.
