Shares of VeriFone Systems Inc (NYSE:PAY) ended Friday session in red amid volatile trading. The shares closed down -3.29 points or -16.37% at $16.81 with 26,744,546 shares getting traded. Post opening the session at $16.84, the shares hit an intraday low of $16.07 and an intraday high of $17.09 and the price vacillated in this range throughout the day. The company has a market cap of $1.56 billion and the numbers of outstanding shares have been calculated to be 110.97 million shares.
VeriFone Systems Inc (PAY) on September 1, 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 PACCAR Inc (NASDAQ:PCAR) ended Friday session in red amid volatile trading. The shares closed down -0.34 points or -0.57% at $59.21 with 2,523,305 shares getting traded. Post opening the session at $59.95, the shares hit an intraday low of $59.07 and an intraday high of $60.00 and the price vacillated in this range throughout the day. The company has a market cap of $20.64 billion and the numbers of outstanding shares have been calculated to be 350.53 million shares.
PACCAR Inc (PCAR) designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks worldwide. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of freight, petroleum, wood products, and construction-related and other materials, as well as manufactures engines. The company sells its trucks through a network of independent dealers under the Kenworth, Peterbilt, and DAF nameplates. The Parts segment distributes aftermarket parts for trucks and related commercial vehicles. The Financial Services segment conducts full service leasing operations under the PacLease trade name. This segment provides equipment financing and administrative support services for its franchisees; retail loans and leasing services for small, medium, and large commercial trucking companies, as well as independent owner/operators and other businesses; and truck inventory financing services to independent dealers.