Shares of VeriFone Systems Inc (NYSE:PAY) ended Monday session in red amid volatile trading. The shares closed down -0.08 points or -0.50% at $16.04 with 2.63 million shares getting traded. Post opening the session at $16.27, the shares hit an intraday low of $15.95 and an intraday high of $16.45 and the price vacillated in this range throughout the day. The company has a market cap of $1.76 billion and the numbers of outstanding shares have been calculated to be 110.97 million shares.
VeriFone Systems Inc (PAY) on September 2, 2016 announced financial results for the three months ended July 31, 2016.
Third Quarter Financial Highlights
- GAAP net revenues of $488 million and Non-GAAP net revenues of $493 million
- GAAP net loss per diluted share of $0.28
- Non-GAAP net income per diluted share of $0.42
- Operating cash flow of $13 million
“We made real progress during the third quarter in further repositioning Verifone, building our services business and bringing our new devices to market. Despite this progress, Q3 was a challenging quarter for Verifone on revenues. We moved decisively to reduce our cost structure, and those initial efforts helped us exceed our revised EPS target,” said Paul Galant, Chief Executive Officer of Verifone. “We are managing through what we believe are difficult but temporary local market and lingering EMV adoption issues. Our outlook for Q4 now assumes a significantly slower EMV rollout, and we are projecting fiscal year 2017 consolidated revenues to be approximately 3% below fiscal year 2016 levels. That said, we are relentlessly executing the long-term vision for Verifone to transform from a box shipper to a services provider.”
Shares of International Paper Co (NYSE:IP) ended Monday session in red amid volatile trading. The shares closed down -0.20 points or -0.41% at $48.99 with 2.61 million shares getting traded. Post opening the session at $49.31, the shares hit an intraday low of $48.99 and an intraday high of $49.90 and the price vacillated in this range throughout the day. The company has a market cap of $20.54 billion and the numbers of outstanding shares have been calculated to be 411.20 million shares.
International Paper (IP) is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging along with uncoated papers and pulp. Headquartered in Memphis, Tenn., the company employs approximately 55,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2015 were $22 billion.