Heartland Payment Systems releases Q1 results

Record operating income for the quarter

The company announced net income for the quarter at USD13.8 million, and earnings per share at USD0.34 (view press release). Adjusted net income and adjusted earnings per share for the quarter were USD15.7 million and USD0.39 respectively compared with USD9.2 million and USD0.23 for the same period last year. Highlights of the quarter include transaction processing up 8.3% on the same period last year to USD16.7 billion; net revenue up 14.2% to USD128.7 million; operating margin of 18.1% compared with 12.9% last year; same store sales rose 3.4% and volume attrition of 12.2% was lowest quarterly volume attrition since third quarter of 2007; new margin installed up 15% on last year to USD14.5 million.

We achieved record operating income in the quarter driven by steady improvement across virtually all of our key growth and productivity metrics and by broader participation of our small and mid-sized merchants in the economic recovery,” said chairman and CEO Robert Carr.

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