VeriFone Systems Inc. on Sept. 6 reported a 21.5% increase in third-quarter revenue, marking the fifth consecutive quarter in which the company experienced a revenue gain of 20% or more compared with the previous year.
The San Jose, Calif.-based payment-terminal maker reported revenues of $317 million for the three-month period ended July 31, up from $261 million during the same period last year.
Net income rose 42.2%, to $26.3 million from $18.5 million.
The company estimates its recent acquisition of most of Hypercom Corp.’s non-U.S. assets could contribute another $350 million to company revenue during fiscal 2012.
VeriFone completed the purchase in early August. Private equity firm Gores Group LLC acquired Scottsdale, Ariz.-based Hypercom’s U.S. properties (
“With the acquisition of Hypercom, VeriFone is stronger than at any point in our 30-year history,” VeriFone CEO Douglas G. Bergeron stated in a company press release. “We will continue to aggressively grow and develop innovative services and solutions in all regions of the world.”
