Heartland Payment Systems, Inc. (HPY: Quote) Tuesday reported that net profit for the second quarter ended 30 June 2012 increased to $17.96 million or $0.44 per diluted share from $12.39 million or $0.31 per diluted share reported for the corresponding quarter last year.
Adjusted Earnings per Share for the second quarter increased to $0.50, from $0.34 per share reported for the same period last year.
On average, fourteen analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share for the quarter. . Analysts' estimates typically exclude special items.
Total revenues for the second quarter were $518.52 million, slightly down from total revenues of $525.97 million reported for the year-ago quarter. Analysts expected revenues of $137.83 million.
Robert Carr, Chairman and CEO, said, "Record transaction processing volume and exceptional growth in our non-card businesses in the second quarter drove earnings to a quarterly record. In addition, our operating margin in the quarter exceeded our near term goal as we continue to improve overall efficiency and productivity. New business in the quarter was the best in several years, with new margin installed increasing over 20% from a year ago as our Durbin Dollars marketing campaign continues to bolster results and both our established and newly hired relationship managers achieved individual record levels of new business production. …"
For full year 2012, the company now projects Net Revenue to be between $540 million and $545 million, and Adjusted EPS to be between $1.70 and $1.74, before deducting $0.22 per share of after-tax stock compensation expense. Analysts expect earnings of $1.47 per share, on revenues of $539.61 million.
The company also announced that the Board of Directors declared a quarterly dividend of $0.06 per common share payable on September 14, 2012 to shareholders of record on August 24, 2012.
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by RTT Staff Writer
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