Heartland Payment Systems Q4 net income up
Heartland Payment Systems has reported a net income of $11.32m, or $0.28 diluted earnings per share, for the fourth quarter of 2011, compared to $6.67m, or $0.17 diluted earnings per share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 declined to $471.42m, compared to $478.22m for the same period a year ago.
Income from operations was $20.14m, compared to $14.26m for the same period in the previous year.
The fourth quarter of 2011 results include small and mid-sized enterprise quarterly transaction processing volume of $16.8bn, up 7.1%, compared to the same period in the prior year.
Heartland Payment Systems chairman and CEO Robert Carr said that the company ended the year on a high note with double-digit net revenue growth, expanding margins, strong cash flow and operating earnings that increased over 40% in the quarter compared to the same quarter last year.
"In the quarter, we were successful in both growing our sales organization and setting a new record for relationship manager productivity," added Carr.
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