VeriFone Systems, Inc. (NYSE:PAY) is the global leader in secure electronic payment solutions. VeriFone Systems provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.



VeriFone Systems, Inc., the global leader in secure electronic payment solutions, yesterday announced financial results for the three months ("Q4 FY11") and fiscal year ended October 31, 2011. Non-GAAP net revenues for Q4 FY11 were $416 million, compared to $317 million in the previous quarter and $276 million for the comparable period of 2010 ("Q4 FY10"), a 51% year-over-year increase. Q4 FY11 marked the sixth straight quarter that the growth rate exceeded 20% year-over-year, excluding the contribution from the Hypercom business acquired in August.

"We finished 2011 with another year of record revenues and record profit, and are now midway through our multi-year transformation to the world's leading services-driven payment technology provider," said Douglas G. Bergeron, Chief Executive Officer of VeriFone Systems. "Looking to 2012, we are very encouraged by the opportunities at hand throughout our growing, global marketplace."

Non-GAAP net revenues for the full year ended October 31, 2011, were $1,310 million, a 31% increase over the $1,002 million result for the full year ended October 31, 2010. GAAP net revenues were $411 million for Q4 FY11, $317 million for the prior quarter and $276 million for Q4 FY10. For FY11, GAAP net revenues totaled $1,304 million, a 30% increase over the $1,002 million total for FY10.

For more information about VeriFone Systems, please visit www.verifone.com

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