NJ-based Heartland Payment Systems posted a second quarter GAAP net loss of $2.6 million. However, total revenue for 2Q/09 was up 14% to $417.4 million, compared to 2Q/08. The processor spent more than $19 million to resolve claims related to the January processing system intrusion. Net revenues in the second quarter were $106.6 million, an increase of 14.1% compared to $93.4 million in the second quarter of last year. Small and mid-sized merchant (SME) transaction processing volume was down 0.6% to $15.2 billion. Net revenue also grew due to the contribution from Network Services, which generated 728 million transactions in the second quarter compared to 256 million transactions contributed in June of last year. Heartland also noted that same store sales contracted at 9.7% for the quarter, the largest such decline in its history. The Company also reduced its guidance for fiscal 2009. For the full year 2009, it now expects net revenue (total revenues less interchange, dues and assessments) to grow in the area of 10%, to between $420 and $425 million. For complete details on Heartland Payment Systems’ second quarter performance visit CardData (www.carddata.com).
HEARTLAND PAYMENT SYSTEMS REVENUES
2Q/08: $395 million
3Q/08: $425 million
4Q/08: $386 million
1Q/09: $372 million
2Q/09: $417 million
Source: CardData (http://www.carddata.com)