10-Q Filing

VERIFONE SYSTEMS, INC. CIK: 1312073 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001312073-14-000011`
Period End Date	20140131
Filing Date	20140312
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	pay-20140131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 48 Cash Flow Statement 52 Comprehensive Income 10

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.10M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.65M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$476.67M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$454.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$268.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$249.28M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowances of $10,104 and $12,652	`AccountsReceivableNetCurrent`	$263.29M	USD	Point-in-time
Accounts receivable, net of allowances of $10,104 and $12,652	`AccountsReceivableNetCurrent`	$284.02M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$121.48M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$138.69M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$134.06M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$114.92M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$824.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$748.97M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	110.16M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	111.08M	shares	Point-in-time
Fixed assets, net	`FixedAssetsNet`	$172.19M	USD	Point-in-time
Fixed assets, net	`FixedAssetsNet`	$174.72M	USD	Point-in-time
Purchased intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$601.51M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	110.16M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	110.08M	shares	Point-in-time
Purchased intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$642.89M	USD	Point-in-time
Goodwill	`Goodwill`	$1.24B	USD	Point-in-time
Goodwill	`Goodwill`	$1.25B	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$23.04M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$23.90M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$77.28M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$72.79M	USD	Point-in-time
Total assets	`Assets`	$2.99B	USD	Point-in-time
Total assets	`Assets`	$2.86B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$110.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$116.53M	USD	Point-in-time
Other Liabilities, Current	`OtherLiabilitiesCurrent`	$213.98M	USD	Point-in-time
Other Liabilities, Current	`OtherLiabilitiesCurrent`	$292.02M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$86.58M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$102.53M	USD	Point-in-time
Short-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$103.84M	USD	Point-in-time
Short-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$92.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$587.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$530.57M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueNoncurrent`	$42.02M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueNoncurrent`	$42.62M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$175.94M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$165.44M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$897.15M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$943.33M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$92.51M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$92.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.84B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable noncontrolling interest in subsidiary	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$593.00K	USD	Point-in-time
Redeemable noncontrolling interest in subsidiary	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$688.00K	USD	Point-in-time
Preferred Stock, Value, Outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred Stock, Value, Outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common Stock, Value, Outstanding	`CommonStockValueOutstanding`	$1.11M	USD	Point-in-time
Common Stock, Value, Outstanding	`CommonStockValueOutstanding`	$1.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.62B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.60B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-516.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-500.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.76M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$14.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.11B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.10B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$36.35M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$36.45M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.99B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.86B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
System Solutions	`SalesRevenueGoodsNet`	$261.17M	USD	1 Quarter
System Solutions	`SalesRevenueGoodsNet`	$281.71M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$147.04M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$174.90M	USD	1 Quarter
Total net revenues	`Revenues`	$436.07M	USD	1 Quarter
Total net revenues	`Revenues`	$428.75M	USD	1 Quarter
System Solutions	`CostOfGoodsSold`	$174.24M	USD	1 Quarter
System Solutions	`CostOfGoodsSold`	$167.51M	USD	1 Quarter
Services	`CostOfServices`	$82.54M	USD	1 Quarter
Services	`CostOfServices`	$98.34M	USD	1 Quarter
Total cost of net revenues	`CostOfRevenue`	$256.79M	USD	1 Quarter
Total cost of net revenues	`CostOfRevenue`	$265.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$171.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$170.22M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$39.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$50.53M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$45.75M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$50.61M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$50.91M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$39.98M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$24.70M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$24.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$150.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$176.73M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$21.73M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-6.51M	USD	1 Quarter
Interest Income (Expense), Net	`InterestIncomeExpenseNet`	$-11.50M	USD	1 Quarter
Interest Income (Expense), Net	`InterestIncomeExpenseNet`	$-11.39M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$3.94M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$-5.13M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-23.03M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.17M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-6.93M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$2.46M	USD	1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	`ProfitLoss`	$11.71M	USD	1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	`ProfitLoss`	$-16.10M	USD	1 Quarter
Net Income (Loss) Attributable to Noncontrolling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-128.00K	USD	1 Quarter
Net Income (Loss) Attributable to Noncontrolling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$136.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-16.23M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.93M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	110.32M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.56M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.32M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$11.71M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-16.10M	USD	1 Quarter
Depreciation and amortization, net	`DepreciationDepletionAndAmortization`	$53.07M	USD	1 Quarter
Depreciation and amortization, net	`DepreciationDepletionAndAmortization`	$50.93M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$12.36M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$15.73M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$6.46M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$9.00M	USD	1 Quarter
Net cash provided by operating activities before changes in working capital	`NetCashProvidedByOperatingActivitiesBeforeChangesInWorkingCapital`	$46.24M	USD	1 Quarter
Net cash provided by operating activities before changes in working capital	`NetCashProvidedByOperatingActivitiesBeforeChangesInWorkingCapital`	$66.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-17.29M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-15.52M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.07M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-11.66M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$1.83M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.76M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-39.30M	USD	1 Quarter
Deferred revenue, net	`IncreaseDecreaseInDeferredRevenue`	$17.70M	USD	1 Quarter
Deferred revenue, net	`IncreaseDecreaseInDeferredRevenue`	$28.18M	USD	1 Quarter
Increase (Decrease) in Other Operating Liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-4.78M	USD	1 Quarter
Increase (Decrease) in Other Operating Liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-71.75M	USD	1 Quarter
Increase (Decrease) in Operating Capital	`IncreaseDecreaseInOperatingCapital`	$12.57M	USD	1 Quarter
Increase (Decrease) in Operating Capital	`IncreaseDecreaseInOperatingCapital`	$14.34M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$53.43M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.79M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.93M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.61M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-5.13M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.32M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.66M	USD	1 Quarter
Proceeds from Debt, Net of Issuance Costs	`ProceedsFromDebtNetOfIssuanceCosts`	$86.91M	USD	1 Quarter
Proceeds from Debt, Net of Issuance Costs	`ProceedsFromDebtNetOfIssuanceCosts`	$2.43M	USD	1 Quarter
Repayments of Debt and Capital Lease Obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$18.51M	USD	1 Quarter
Repayments of Debt and Capital Lease Obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$121.88M	USD	1 Quarter
Proceeds from (Payments for) Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.16M	USD	1 Quarter
Proceeds from (Payments for) Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$5.61M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.37M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.24M	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.15M	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.06M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.60M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.94M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$476.67M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$454.07M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$268.22M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$249.28M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$476.67M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$454.07M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$268.22M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$249.28M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-16.23M	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-18.70M	USD	1 Quarter
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$48.27M	USD	1 Quarter
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$927.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$265.00K	USD	1 Quarter
Other Comprehensive Income (loss) related to Other items, net of tax	`OtherComprehensiveIncomelossrelatedtoOtheritemsnetoftax`	$-172.00K	USD	1 Quarter
Other Comprehensive Income (loss) related to Other items, net of tax	`OtherComprehensiveIncomelossrelatedtoOtheritemsnetoftax`	$310.00K	USD	1 Quarter
Comprehensive Income (Loss), Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$61.35M	USD	1 Quarter
Comprehensive Income (Loss), Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$-34.84M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.