VeriFone’s first quarter revenues grew 38%, to more than $312 million, according to the company’s official earnings release.
By generally accepted accounting principles (GAAP), the company posted a quarterly net loss slightly larger than $3 million to start its 2012 fiscal year. But acquisition and restructuring costs ($46.9 million), stock-based compensation ($10.7 million) and two amortization figures ($27.7 million combined) weighed that number down. Indeed, the company posted a $21.9 million operating profit to start its year.
The Wall Street Journal categorized those acquisition expenses in particular as having “masked a stronger-than-expected core profit.”
The full description of VeriFone’s most recent financial performance is available at PYMNTS.com.
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