Heartland Payment's 2nd-qtr profit up 10 percent

Heartland Payment Systems 2nd-quarter profit up 10 percent; raises outlook

Associated Press

NEW YORK (AP) -- Heartland Payment Systems Inc.'s second-quarter net income climbed 10 percent, buoyed in part by new business.

The payment processor said Wednesday net income rose to $19.7 million, or 53 cents per share, for the three months ended June 30. That compares with $17.8 million, or 44 cents per share, a year ago. Net revenue — or total revenue less interchange fees and dues — increased 14 percent to $149.7 million.

Analysts expected 51 cents per share on revenue of $152 million, according to FactSet.

For the full year, the company now expects net revenue to be between $600 million and $610 million. Earnings per share are expected to be between $2.29 and $2.33 per share.

Analysts had expected $1.94 per share on revenue of $607.6 million.

Shares fell 2.4 percent, or 94 cents, to $37.93 per share in midday trading.

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