VeriFone Systems Inc. this afternoon reported fiscal fourth quarter revenue of $276 million, up 26.7% from $217.8 million during same period ended Oct. 31 last year. The quarter’s performance pushed the point-of-sale terminal maker’s annual revenue past the $1 billion mark for the first time.
The San Jose, Calif.-based company’s $1 billion in full-year revenue represents an 18.4% improvement from $844.7 billion the previous fiscal year. Net income for the year totaled $98.8 million, a substantial improvement from the $157.5 million loss reported in fiscal 2009.
VeriFone posted fourth quarter net income of $49.4 million; it reported a $2.2 million loss a year earlier.