CALIFORNIA: VeriFone Systems (PAY) reported fiscal 4Q15 total revenue of $514.1 million, a rise of 4.8% when compared to total revenue of $490.5 million in fiscal 4Q14. Revenue from systems solutions rose by 9.0%, and revenue from services fell by 2.4% in fiscal 4Q15, as compared to fiscal 4Q14. The company’s cost of net revenue as a percentage of total net revenue fell by 3.4%, and its gross profit margin rose by 5.0% in fiscal 4Q15, as compared to 4Q14.
Its net income and EPS (earnings per share) rose to $38.2 million and $0.33, respectively, in fiscal 4Q15, as compared to net income and EPS of $31.1 million and $0.27, respectively, in fiscal 4Q14. Its non-GAAP (generally accepted accounting principles) net income and non-GAAP EPS rose 12.2% and 11.4% to $56.2 million and $0.49, respectively, in fiscal 4Q15, as compared to 4Q14.
VeriFone Systems’ board of directors has authorized a $200 million share repurchase program. The company has also acquired Curb to expand its taxi and car-for-hire electronic hailing, payment, and media business.
Fiscal 2015 results
In fiscal 2015, VeriFone Systems reported total revenue of $2,000.5 million, a rise of 7.0% YoY (year-over-year). The company’s gross profit margin rose by 7.9% in fiscal 2015.
Also, the company’s net income and EPS rose to $79.1 million and $0.68, respectively, in fiscal 2015, as compared to net income and EPS of -$38.1 million and -$0.34, respectively, in fiscal 2014. Its non-GAAP net income and non-GAAP EPS rose 23.5% and 21.2% YoY to $212.1 million and $1.83, respectively, in fiscal 2015.
Meanwhile, the company’s cash and cash equivalents fell by 16.5%, and its inventory rose by 4.3% in fiscal 2015. Its current ratio fell to 1.4, and its debt-to-equity ratio rose to 1.6 in fiscal 2015. Both ratios were 1.5 in fiscal 2014.
