Financial Technology - Earnings and Guidance
Heartland Payment Systems reiterates outlook for FY'09
November 03, 2009 4:59 PM ET
By Zaeem Shoaib
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Heartland Payment Systems Inc. said Nov. 3 that it is not changing its guidance for 2009 as economic conditions that affect the majority of its customers did not evidence any demonstrable improvement in the third quarter compared to the second quarter. The company still expects net revenue for the year to be between $420 million and $425 million, representing a growth of about 10%. EPS for the full year is expected to range between 85 cents and 90 cents, excluding approximately 8 cents per share of 123R stock compensation expense. According to SNL Financial, the Thomson First Call mean EPS estimate for the year was 86 cents. The outlook for the year does not consist of any costs or estimates for potential losses; costs, expenses and accruals arising from the previously announced processing system intrusion, including exposure to credit and debit card companies and banks, exposure to various legal proceedings that are pending or may arise and related fees and expenses; and other potential liabilities, costs and expenses. The company said neither the costs nor the potential losses are estimable at this point, except for sums already accrued, and potential losses are not deemed probable. Heartland Payment Systems also reported a net loss of $13.6 million, or 36 cents per share, for the quarter ended Sept. 30, compared to net income of $13.4 million, or 35 cents per share, in the year-ago period. | 
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