Lipman’s Net Income Rises 25% Over 1Q/05

Rosh Haayin-based Lipman Electronic Engineering reported revenues of
$57.6 million, a 6.3% increase over the year ago quarter.
However, excluding revenues from its Dione subsidiary, Lipman’s revenues
in the first quarter increased 22.6% compared to 1Q/05. Net income for
the quarter was $6.6 million, compared to net income of $5.3 million in
the first quarter of 2005. During the first quarter, Lipman received a
$3.2 million follow-on order for its “Dione Secura” PIN Entry Devices
from a leading Mexican bank. Recently, Lipman and Verifone entered into
a definitive agreement for VeriFone to acquire Lipman in a transaction
valued at $793 million, based on VeriFone’s share price at the close of
trading on April 7th. The acquisition is expected to close by October
31st. For more details on Lipman’s latest results, visit CardData (www.carddata.com).

Details

iMAX Slashes Payment Terminal Prices

Denver-based iMAX Business Solutions is offering Verifone, Hypercom, and Nurit credit card terminals at wholesale prices. The company has in stock and ready for immediate delivery the most popular credit card terminals including Verifone, Hypercom, and Nurit, starting at $99.00. Also available is the Nurit 8000 wireless credit card terminal for $749.00, which includes the wireless sim card. iMAX Business Solutions is the largest distributor and marketer of credit card machines on the Internet.

Details

Heartland Payment’s Profit Soars 63%

NJ-based Heartland Payment Systems’ first quarter net income soared 63% over 1Q/06 driven by a 34% increase in processing volume, despite the seasonally slow nature of the first quarter. The processor also posted record revenues of $236.8 million for the first quarter, increasing 39% over 1Q/05. The Company’s active card processing merchant count rose to 116,400 as of March 31st, a 24% increase over the past twelve months. The Company noted that on the front end, 76% of new merchants installed and 59% of total transactions processed in 1Q/06 were on “HPS Exchange.” The conversion of its merchants to “Passport” reached the 97% mark on May 1st. During the quarter, HPS made a strategic investment in Parcxmart Technologies. The Company also acquired Chattanooga-based Debitek. The Company also recently broke ground on a new service center in Jeffersonville, Indiana with a staff of 320. For complete details on Heartland Payment Systems’ first quarter results, visit CardData ([www.carddata.com][1]). (CF Library 1/27/06; 2/13/06; 4/11/06)

HPS REVENUES
1Q/05: $170 million
2Q/05: $210 million
3Q/05: $228 million
4Q/05: $227 million
1Q/06: $237 million
Source: CardData (www.carddata.com).

[1]: http://www.carddata.com

Details

E-PAYMENTS FORECAST

A new study predicts that electronic retail payments will rise from 179 billion this year to 260 billion in 2009. All forms of electronic payments are expected to grow at a compound annual growth rate of 12.9% between 2004 and 2009. The research by Global Insight for
ACI Worldwide, says that volumes for electronic payments are expected to double across the world, with China and India doubling more quickly at a rate of every three and four years, respectively. Conversely, the use of checks as a form of payment is forecast to continue its decline; as measured in 2004, approximately 20% of non-cash transactions were check-based; in 2009, only 10% of total payments are predicted to be in check form. The Eastern Europe and Asia/Pacific regions are forecast to lead the world in electronic payment transaction growth, predicted at 21.6% and 19.2% respectively, for the period of 2004 to 2009.

Details

TNS Posts Record Revenues for Q1

VA-based TNS reported that revenue for the first quarter increased 4.4% year-on-year to $65.9 million. The first quarter GAAP net loss was $0.5 million, versus first quarter 2005 GAAP net income of $1.5 million. The Company says earnings were challenged by unexpected expenses related to a reserve for litigation that arose during the first quarter and legal expenses incurred by the special committee of its board of directors. Revenue from the International Services Division increased 5.7% to $23.9 million. Revenue from the Financial Services Division increased 14.6% to $8.4 million. Revenue from the Telecommunication Services Division increased 47.7% to $14.8 million Revenue from the POS Division decreased 18.9% to $18.8 million on 1.31 billion transactions from $23.2 million in the first quarter 2005 on 1.51 billion transactions. During the first quarter TNS won a multi-year contract extension with TSYS Acquiring Solutions for additional domestic and international transaction transport network services. For complete details on TNS’ first quarter results, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

Details

PayPal Credit is in the Works for 06

PayPal’s management team said this week that Merchant Services remains its strategic priority for this year and it is experiencing accelerating growth in the U.S. As a result, the company is expanding its focus from sole proprietors and small and mid-sized businesses to include large merchants. PayPal executives also said they plan to expand PayPal’s reach beyond online payments into areas such as financial products, including “PayPal Credit,” and mobile payments. In April, PayPay launched “PayPal Mobile,” which offers person-to-person, text-to-buy and text-to-give functionality. For the first quarter, PayPal reported more than 105 million accounts worldwide and $8.8 billion in total payment volume. For complete details on PayPal’s latest results, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

Details

Metavante Corp. Promotes CFO to COO

Milwaukee-based Metavante has promoted CFO Michael Hayford to COO. Hayford joined Metavante in 1992 as head of operations and was promoted to Chief Information Officer in 1993. Since then, he has held various positions with Metavante, including general manager of the financial products group from 1995 to 1998, with responsibility for application development. He also built and ran the mergers and acquisitions team from 1998 to 2004. A Certified Public Accountant, Hayford holds a master’s degree in business administration from Northwestern University’s Kellogg School of Business and a bachelor’s degree in accounting and a bachelor’s degree in computer science from the University of Wisconsin-La Crosse.

Details

May RBC Cash Index Shows a Sharp Drop

The May “RBC CASH INDEX” dropped to 67.1, compared to 89.4 in April, indicating that consumer confidence dropped sharply due to rising gas prices and interest rates. Consumers’ economic outlook has plummeted sharply during the past month, as seen in the RBC Expectations Index, which stood at 6.3 in May, a dramatic drop from April’s 56.9. 24% of respondents think their local economy will be weaker six months from now, up from 16 per cent last month. Negative views of the current state of the economy now outweigh positive views, with one in four Americans (25%) rating their local economy as weak. As Americans’ views of both the current economy and their future prospects darken and interest rates increase, they are less confident of their ability to make investments or major purchases.

Details

Coinstar to Buy UK’s TMT for $27MM

WA-based Coinstar has inked a deal to purchase London-based Travelex Money Transfer Ltd., for approximately $27 million in cash. TMT is the third largest money transfer network in terms of agent locations and countries, with more than 17,000 locations in 138 countries. Its primary send markets are the U.K., France and Italy. TMT is privately owned and is a wholly-owned subsidiary of Travelex Ltd. TMT’s revenues for 2005 were $5.8 million with a negative EBITDA of approximately $10.4 million. After closing, TMT will continue to operate independently as a wholly-owned subsidiary of Coinstar. Mohit Davar will continue to lead TMT. Coinstar recently reported $126 million in first quarter revenue, a 19.3% increase over the year-ago quarter. (CF Library 5/1/06)

Details

Pier 1 Imports Mulls a Credit Card Exit

TX-based Pier 1 Imports has retained JPMorgan to assist in a potential transaction to sell the Company’s proprietary credit card business. JPMorgan will also advise management and the Board of Directors review of its store portfolio and the possible sale of other assets. Sales for the four-week period ended April 29, 2006 aggregated $111,550,000 a decrease of 8.7% from $122,218,000 last year, and comparable store sales declined 11.5%. Year-to-date sales for the two-month period amounted to $255,208,000, down 3.3% from $264,023,000 last year, and comparable store sales declined 6.5%.

Details

TRM’s ATM Revenue Slips 9% in 1Q/06

OR-based ATM specialist TRM reported that first quarter gross sales decreased 10% year-on-year and 3% sequentially to $53.0 million. The Company says the decrease reflects a net decline in unit count and cash withdrawals associated with attrition in the ACI ATM portfolio that the Company acquired from eFunds in late 2004. The first quarter net loss was $1.5 million, compared to a net loss of $13.7 million in 4Q/05 and net income of $1.7 million in 1Q/05. Sales for the ATM unit declined 9% to $43.8 million. The average monthly number of transacting ATMs declined 10% to 18,321. Total withdrawals decreased 7% to 17.3 million. In January, TRM engaged Allen & Company to explore a possible sale. Last month, PricewaterhouseCoopers raised questions about the company’s ability to continue as a going concern. For complete details on TRM’s first quarter results, visit CardData ([www.carddata.com][1]). (CF Library 1/18/06)

TRM GROSS SALES
1Q/05: $58.8 million
2Q/05: $61.4 million
3Q/05: $59.2 million
4Q/05: $54.5 million
1Q/06: $53.0 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

Details

Diebold Intros OpteView Remote Services

Diebold has introduced “OpteView Remote Services” which enables remote troubleshooting and problem diagnosis for the service of ATM networks. Diebold’s new OpteView Remote Services enables remote troubleshooting and problem diagnosis for the service of ATM networks. OpteView allows Diebold to begin problem resolution within minutes of a service request by remotely accessing data.

Details