Revenue Shrinks at Verifone, but Buyout Remains on Track
Verifone’s fiscal second-quarter results support our thesis that the hardware business will continue to struggle as payments increasingly digitize over time. The company’s strategy is consistent with that thesis--value-added services are accounting for a larger percentage of business over time and contributing to higher gross margins. Gross margin was 40.7% over the three months ended April 30, up from 36.5% in the second quarter of fiscal 2017. Unfortunately, revenue fell in both the systems an...VeriFone Systems is a holding company. Through its subsidiaries, the company provides payments and commerce solutions at the point of sale (POS). The company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. The company's system solutions consist of POS electronic payment devices that run its operating systems, security and encryption software, and certified payment software, and that are designed to suit its clients' needs in a range of environments, including multilane and countertop implementations, self-service and unattended environments, in-vehicle and portable deployments, mobile point-of-sale solutions, as well as iPOS solutions.
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