Heartland Payments rises on 3Q, stronger guidance
Heartland Payments rises on better-than-expected 3rd-qtr results, higher guidance
NEW YORK (AP) -- Shares of Heartland Payment Systems Inc. jumped Thursday after it reported better-than-expected third-quarter results and raised its outlook for the year.
The payment processor earned $19.4 million, or 48 cents per share, compared with $12.6 million, or 31 cents per share, a year earlier.
Net revenue rose to $143.4 million, up 17 percent from a year earlier.
Analysts expected a profit of 42 cents per share on revenue of $140.4 million, according to a FactSet survey.
Card processing for small and medium-sized businesses rose 5.8 percent from a year ago. Its operating margin in the quarter was its highest in five years.
The company now expects to earn full-year adjusted net income of $1.81 to $1.84 per share, excluding some one-time items. It sees 2012 revenue between $544 million and $546 million.
Analysts expect $542.7 million.
The stock rose $2.48, or 9.5 percent, to close at $28.57. Shares earlier climbed as high as $29.88. The high for the year is $34.
