VeriFone Reports 89% Rise In Net Income, Record Q2 Revenue

VeriFone Systems Inc. on May 26 reported net income of $20.2 million for the fiscal second quarter ended April 30, an 89% increase from $10.7 million the point-of-sale terminal maker generated during the same period last year.

Revenue rose 19.4%, to $240.7 million from $201.6 million, a record second quarter for VeriFone, the San Jose, Calif.-based company notes in a news release.

During the quarter, VeriFone bought Orange Logic Ltd., a South Korea-based payment terminal company (see story). It also launched its next iteration of the VX terminal line (see story).