Increased revenue in several international markets contributed to positive first-quarter revenue growth for Ingenico SA, a France-based company. The company’s payment-terminal business experienced revenue growth after being “severely impacted” by the difficult economy in 2009, while its transaction-services business “performed in line with” company expectations, Ingenico noted April 21.
During the quarter ended March 31, Ingenico earned revenue of $231.45 million (173.2 million euros), up 13% from $204.85 million during the same time period last year at current exchange rates. The revenue increase was “in line with our expectations,” Philippe Lazare, Ingenico chairman and CEO, said in a statement.
In North America, Ingenico’s business returned to the level it was during the first quarter of 2008, according to the company. The region reported revenue of $38.9 million for the quarter, up 56.2% from $24.9 million a year earlier.
Growth in China helped fuel a revenue increase in the Asia-Pacific market, which posted revenue of $20.7 million, up 31% from $15.8 million.
Market growth caused by regulatory changes in Germany and a banking contract in France helped Ingenico in the European market, where revenue grew by 9.4%, to $116 million from $106 million.
The Latin America region posted revenue of $36.5 million, up 6.1% from $34.4 million.
Ingenico’s Eastern Europe, the Middle East and Africa region posted a 19% revenue decline, to $19.2 million from $23.7 million, which the company largely attributed to poor performance in the Middle East. Business in Turkey and Eastern Europe had stabilized during the quarter, according to the company.
An Ingenico representative was unavailable for comment by PaymentsSource deadline.