VeriFone Systems Inc (PAY, Financial) filed Quarterly Report for the period ended 2012-07-31.
Verifone Systems Inc has a market cap of $3.75 billion; its shares were traded at around $32.165 with a P/E ratio of 18.5 and P/S ratio of 2.9.
System solutions net revenues for Europe, Middle East and Africa increased $44 million, or 52.9%, and $1 million, or 1%, excluding acquisitions, for the three months ended July 31, 2012 compared with the three months ended July 31, 2011. This $1 million increase in net revenues was primarily due to a $10 million increase in demand as countries in this region, primarily Nigeria, move towards a less cash-dominant economy, offset by an $8 million decrease in southeast Europe primarily due to the timing of large orders from distributors.
International System solutions net revenues increased $304 million, or 67.0%, for the nine months ended July 31, 2012 compared with the nine months ended July 31, 2011. On a regional basis, excluding historical sales to acquired businesses, Europe, Middle East and Africa increased $146 million, Latin America increased $105 million, and Asia increased $53 million. International System solutions net revenues for the nine months ended July 31, 2011 included $15 million of sales to Point and $1 million of sales to a company we acquired during fiscal year 2011.
For the nine months ended July 31, 2012 compared with the nine months ended July 31, 2011, the Corporate operating loss increased $162 million, or 97.7%. Our acquisition activities resulted in $74 million of increased amortization of purchased intangible assets, a $24 million increase in acquisition, integration, and restructuring-related expenses, a $16 million increase related to amortization of the step-down in deferred revenue and a $7 million increase in amortization of the step-up in inventory resulting from acquisition accounting. In addition, stock-based compensation expense increased $9 million for the nine month period ended July 31, 2012 compared with the nine months ended July 31, 2011, and we recognized a patent litigation loss contingency of $18 million during the second quarter of fiscal year 2012. These increases were partially offset by a decrease of $11 million in warranty and royalty expenses.
Net cash used in investing activities increased $1,081 million in the nine months ended July 31, 2012 compared with the nine months ended July 31, 2011 primarily as a result of our acquisition of Point in December 2011 for a net cash outlay of $999 million ($1,024 million in cash consideration paid, offset by $25 million in cash acquired), an increase in net cash outlays for other acquisitions of $59 million, investments in $21 million of revenue generating assets to support our growing Services businesses a $15 million increase in other capital expenditures, offset by $13 million of cash received during fiscal 2012 upon
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Verifone Systems Inc has a market cap of $3.75 billion; its shares were traded at around $32.165 with a P/E ratio of 18.5 and P/S ratio of 2.9.
Highlight of Business Operations:
International System solutions net revenues increased $88 million, or 52.0%, for the three months ended July 31, 2012 compared with the three months ended July 31, 2011. On a regional basis, Europe, Middle East and Africa increased $44 million, Latin America increased $25 million, and Asia increased $19 million. International System solutions net revenues in the three months ended July 31, 2011 included $6 million of sales to Point and $1 million of sales to a company we acquired during fiscal 2011, that will not recur because the acquired company was formerly a customer.System solutions net revenues for Europe, Middle East and Africa increased $44 million, or 52.9%, and $1 million, or 1%, excluding acquisitions, for the three months ended July 31, 2012 compared with the three months ended July 31, 2011. This $1 million increase in net revenues was primarily due to a $10 million increase in demand as countries in this region, primarily Nigeria, move towards a less cash-dominant economy, offset by an $8 million decrease in southeast Europe primarily due to the timing of large orders from distributors.
International System solutions net revenues increased $304 million, or 67.0%, for the nine months ended July 31, 2012 compared with the nine months ended July 31, 2011. On a regional basis, excluding historical sales to acquired businesses, Europe, Middle East and Africa increased $146 million, Latin America increased $105 million, and Asia increased $53 million. International System solutions net revenues for the nine months ended July 31, 2011 included $15 million of sales to Point and $1 million of sales to a company we acquired during fiscal year 2011.
For the nine months ended July 31, 2012 compared with the nine months ended July 31, 2011, the Corporate operating loss increased $162 million, or 97.7%. Our acquisition activities resulted in $74 million of increased amortization of purchased intangible assets, a $24 million increase in acquisition, integration, and restructuring-related expenses, a $16 million increase related to amortization of the step-down in deferred revenue and a $7 million increase in amortization of the step-up in inventory resulting from acquisition accounting. In addition, stock-based compensation expense increased $9 million for the nine month period ended July 31, 2012 compared with the nine months ended July 31, 2011, and we recognized a patent litigation loss contingency of $18 million during the second quarter of fiscal year 2012. These increases were partially offset by a decrease of $11 million in warranty and royalty expenses.
Net cash used in investing activities increased $1,081 million in the nine months ended July 31, 2012 compared with the nine months ended July 31, 2011 primarily as a result of our acquisition of Point in December 2011 for a net cash outlay of $999 million ($1,024 million in cash consideration paid, offset by $25 million in cash acquired), an increase in net cash outlays for other acquisitions of $59 million, investments in $21 million of revenue generating assets to support our growing Services businesses a $15 million increase in other capital expenditures, offset by $13 million of cash received during fiscal 2012 upon
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