Heartland Payment Systems Inc. (HPY, Financial) filed Quarterly Report for the period ended 2012-06-30.
Heartland Payment Systems, Inc. has a market cap of $1.19 billion; its shares were traded at around $30.84 with a P/E ratio of 22.5 and P/S ratio of 0.6. The dividend yield of Heartland Payment Systems, Inc. stocks is 0.8%.
Costs of services. Costs of services decreased 3.9% from $474.9 million in the three months ended June 30, 2011 to $456.2 million in the three months ended June 30, 2012, primarily due to the decrease in interchange expense resulting from the Durbin Amendment. Interchange expense decreased 9.4% from $365.2 million in the three months ended June 30, 2011 to $330.7 million in the three months ended June 30, 2012, and represented 63.8% of total revenues in the three months ended June 30, 2012 compared to 69.4% in the three months ended June 30, 2011.
General and administrative. General and administrative expenses increased $3.2 million, or 10.9%, from $29.4 million in the three months ended June 30, 2011 to $32.6 million in the three months ended June 30, 2012. This increase was primarily due to a $3.1 million increase in personnel costs, including a $2.2 million increase in share-based compensation. See "β Critical Accounting Estimates β Share-based Compensation" for more detail on share-based compensation expense. General and administrative expenses for the three months ended June 30, 2012 benefited from refined allocations of certain information technology related expenses, previously reported in general and administrative expense, now recorded in processing and servicing expense. General and administrative expenses as a percentage of total revenue for the three months ended June 30, 2012 was 6.3%, an increase from 5.6% for the three months ended June 30, 2011.
Costs of services. Costs of services decreased 3.1% from $898.0 million in the six months ended June 30, 2011 to $870.6 million in the six months ended June 30, 2012, due primarily to the decrease in interchange expense resulting from the Durbin Amendment. Interchange expense decreased 8.4% from $686.0 million in the six months ended June 30, 2011 to $628.7 million in the six months ended June 30, 2012, and represented 63.6% of total revenues in the six months ended June 30, 2012, compared to 69.0% in the six months ended June 30, 2011.
General and administrative. General and administrative expenses increased $6.0 million, or 10.2%, from $59.4 million in the six months ended June 30, 2011 to $65.5 million in the six months ended June 30, 2012. General and administrative expenses in the six months ended June 30, 2012 included $1.1 million for our periodic sales and servicing organization summit held in March 2012. Excluding these summit expenses, our general and administrative expenses in 2012 increased $4.9 million, or 8.3%, primarily due to a $4.9 million increase in personnel costs, including a $3.2 million increase for share-based compensation. General and administrative expenses for the six months ended June 30, 2012 benefited from refined allocations of certain information technology related expenses, previously reported in general and administrative expense, now recorded in processing and servicing expense. Offsetting this benefit was the increase in personnel costs which included additional personnel costs relating to the acquisition of the Heartland School Solutions businesses and an increase in share-based compensation expense. See "β Critical Accounting Estimates β Share-based Compensation" for more detail on share-based compensation expense. General and administrative expenses as a percentage of total revenue for the six months ended June 30, 2012 was 6.6%, an increase from 6.0% for the six months ended June 30, 2011.
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Heartland Payment Systems, Inc. has a market cap of $1.19 billion; its shares were traded at around $30.84 with a P/E ratio of 22.5 and P/S ratio of 0.6. The dividend yield of Heartland Payment Systems, Inc. stocks is 0.8%.
Highlight of Business Operations:
Our general and administrative expenses increased $3.2 million, or 10.9%, from $29.4 million in the three months ended June 30, 2011 to $32.6 million in the three months ended June 30, 2012. The increase in general and administrative expense for the three months ended June 30, 2012 was primarily due to a $3.0 million increase in personnel costs, including a $2.2 million increase in share-based compensation. General and administrative expenses for the three months ended June 30, 2012 benefited from refined allocations of certain information technology related expenses, previously reported in general and administrative expense, now recorded in processing and servicing expense. General and administrative expenses as a percentage of total revenue for the three months ended June 30, 2012 was 6.3%, up from 5.6% for the three months ended June 30, 2011.Costs of services. Costs of services decreased 3.9% from $474.9 million in the three months ended June 30, 2011 to $456.2 million in the three months ended June 30, 2012, primarily due to the decrease in interchange expense resulting from the Durbin Amendment. Interchange expense decreased 9.4% from $365.2 million in the three months ended June 30, 2011 to $330.7 million in the three months ended June 30, 2012, and represented 63.8% of total revenues in the three months ended June 30, 2012 compared to 69.4% in the three months ended June 30, 2011.
General and administrative. General and administrative expenses increased $3.2 million, or 10.9%, from $29.4 million in the three months ended June 30, 2011 to $32.6 million in the three months ended June 30, 2012. This increase was primarily due to a $3.1 million increase in personnel costs, including a $2.2 million increase in share-based compensation. See "β Critical Accounting Estimates β Share-based Compensation" for more detail on share-based compensation expense. General and administrative expenses for the three months ended June 30, 2012 benefited from refined allocations of certain information technology related expenses, previously reported in general and administrative expense, now recorded in processing and servicing expense. General and administrative expenses as a percentage of total revenue for the three months ended June 30, 2012 was 6.3%, an increase from 5.6% for the three months ended June 30, 2011.
Costs of services. Costs of services decreased 3.1% from $898.0 million in the six months ended June 30, 2011 to $870.6 million in the six months ended June 30, 2012, due primarily to the decrease in interchange expense resulting from the Durbin Amendment. Interchange expense decreased 8.4% from $686.0 million in the six months ended June 30, 2011 to $628.7 million in the six months ended June 30, 2012, and represented 63.6% of total revenues in the six months ended June 30, 2012, compared to 69.0% in the six months ended June 30, 2011.
General and administrative. General and administrative expenses increased $6.0 million, or 10.2%, from $59.4 million in the six months ended June 30, 2011 to $65.5 million in the six months ended June 30, 2012. General and administrative expenses in the six months ended June 30, 2012 included $1.1 million for our periodic sales and servicing organization summit held in March 2012. Excluding these summit expenses, our general and administrative expenses in 2012 increased $4.9 million, or 8.3%, primarily due to a $4.9 million increase in personnel costs, including a $3.2 million increase for share-based compensation. General and administrative expenses for the six months ended June 30, 2012 benefited from refined allocations of certain information technology related expenses, previously reported in general and administrative expense, now recorded in processing and servicing expense. Offsetting this benefit was the increase in personnel costs which included additional personnel costs relating to the acquisition of the Heartland School Solutions businesses and an increase in share-based compensation expense. See "β Critical Accounting Estimates β Share-based Compensation" for more detail on share-based compensation expense. General and administrative expenses as a percentage of total revenue for the six months ended June 30, 2012 was 6.6%, an increase from 6.0% for the six months ended June 30, 2011.
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