IMGCAP(1)]
Payment-terminal maker VeriFone Holdings Inc. yesterday posted a $51.5 million net loss for the first two fiscal quarters of 2008. That compares with a $10.5 million net loss for the same fiscal quarters last year. VeriFone's fiscal year ends Oct. 31. VeriFone filed its earnings statements Tuesday with the U.S. Securities and Exchange Commission after delaying the filing the financial statements while working to restate results for the first three quarters of fiscal 2007. Net revenues for the six-month period decreased 3.4%, to $418.5 million from 433.2 million. For VeriFone's first quarter ended Jan. 31, the company posted a net loss of $33.5 million. That compares with a net loss of $5.8 million during the same period last year. Net revenue for the first quarter decreased 14.3%, to $185.5 million from $216.4 million. For the second quarter ended April 30, VeriFone posted a net loss of $17.9 million versus a net loss of $4.8 million during the same three months the previous fiscal year. Net revenue for the quarter rose 7.4%, to $233 million from $216.9 million. In its SEC filing, VeriFone pointed to the costs of the financial audit, the restatement of earnings and the costs of defending itself against shareholder lawsuits as having a significant impact on the company's operations and financial results.
