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VeriFone Systems Inc. (PAY) Has Dropped To A New Low On Weak Guidance

VeriFone Systems Inc. (PAY) announced after the bell Wednesday that it expects to report first quarter non-GAAP net income per share between $0.47 and $0.50. Second quarter non-GAAP EPS is expected to be between $0.45 and $0.50. The consensus estimates are for EPS of $0.73 and $0.80 respectively.

VeriFone Systems has gapped open dramatically lower Thursday and is now down 11.69 at $20.20 on strong volume. The stock has plunged to a new low for the year.

by RTT Staff Writer

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