Tuesday, 5 March 2013

Verifone Systems (PAY) Earning Report

PAY reports its earning today. For the first fiscal quarter, PAY reported revenue of $430 million, non-GAAP EPS of $0.51, GAAP EPS of $0.11 and cash flow from operations was $53 million.

It was slightly better than the preliminary results that it had anticipated on 22 Feb when its stock fell from US$32 to US18.24.

I bought 100 shares of PAY when I saw the plunge but would have gotten lower at US$18 if I had waited a couple of days. I went to read up the company profile and financials when I saw the plunge and thought that it is not a bad company except that it is facing some difficulties with Europe and a failed contract. Just load up a bit to see whether my views are ok. Just 100 shares, thus, even if my decision is wrong, the damage is minimum.

My target is around US$25 for me to execute a share. What are your views? Feel free to comment.

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