Heady growth in the Asia-Pacific, Europe and Latin America made for a strong third quarter for France-based point-of-sale equipment maker Ingenico S.A.
Ingenico says it generated $323.1 million (231.8 million euros) in revenue for the quarter ended Sept. 30, up 16.9% from the $276.5 million during the same period last year. The company did not report whether it generated a profit or loss for the quarter.
Sales in the Asia-Pacific region totaled $58.7 million, up 130.2% from $25.5 million, fueled by strong sales in China and Australia, Ingenico says.
Operations in Northern and Southern Europe generated $146.5 million in revenue, up 56.4% from the $93.7 million. Resumption of growth in the United Kingdom and Spain and improved sales in France bolstered revenue in the region, Ingenico says.
Latin America revenue also grew, to $61 million, up 28.2% from $47.6 million, helped by strong sales in Brazil, which recently opened its merchant acquiring market, Ingenico says.
Two regions, North America and the Eastern Europe, Middle East and Africa, experienced decreased revenue during the quarter.
In North America, revenue totaled $32.7 million, down 25.2% from $43.7 million. North America remains a difficult environment, the company says, noting it had a large one-off sale that spiked the revenue total a year earlier.
The Eastern Europe, Middle East and Africa region generated $24 million in revenue, down 29.2% from $33.9 million.
Overall, Ingenico performed well during the quarter, says Gil Luria, an analyst with Los Angeles-based Wedbush Securities.
“Ingenico is a market winner in an attractive segment and should provide a compelling investment in innovation and emerging market growth,” Luria wrote in a research note.
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