In Q1 2012, US-based payments processor Heartland Payment Systems has seen its net income reach USD 13.8 million or USD 0.34 per share.
According to the company’s financial results, adjusted net income and adjusted net earnings per share have hit USD 15.7 million and USD 0.39, respectively as compared with USD 9.2 million and USD 0.23 in Q1 2011.
During the period under review, the company has also reported net revenues of USD 128.7 million, up by 14.2 percent as compared to the corresponding period in 2011.
Small and medium sized enterprises (SMEs) card processing volume has increased 8.3 percent in Q1 2012, reaching USD 16.7 billion. The Q1 2012 growth in card transaction processing volume was a result of both improving same store sales, which have grown 3.4 percent and reduced volume attrition, which has decreased to 12.2 percent, the lowest quarterly volume attrition since September 2007. During the same period, operating income has jumped 60 percent to USD 23.2 million, or 18.1 percent of net revenue.
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