Verifone Systems (PAY) Annual Income Statement

Income Statement Summary

Verifone Systems (PAY) annual income statement covering fiscal 2012 through 2017, as reported to the SEC.

Verifone Systems reported total net revenues of $1.87B in fiscal 2017, down 6.1% from $1.99B in fiscal 2016.
Gross profit was $713.01M, down 10.2% from $794.31M. That is a gross margin of 38.1%.
Operating income was -$112.38M, after a profit of $32.78M in fiscal 2016. Operating margin was -6%.
Net loss was $173.83M, a bigger loss than the $9.28M in fiscal 2016. Net margin was -9.3%.
Diluted (in dollars per share) was -$1.55, a bigger loss than the $0.08 in fiscal 2016.
Total cost of net revenues took 61.9% of total net revenues, research and development 11.3% and general and administrative 10.1%.

Total net revenues have grown 0.05% a year on average since fiscal 2012, from $1.87B to $1.87B.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Oct'17	Oct'16	Oct'15	Oct'14	Oct'13	Oct'12
Net revenues:
Systems
1,085,478	1,236,361	1,309,628	1,162,226	1,068,444	1,339,024	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Systems						1,085,478	1,236,361	1,309,628	1,162,226	1,068,444	1,339,024	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Services
785,498	755,788	690,829	706,648	633,777	526,947	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Services						785,498	755,788	690,829	706,648	633,777	526,947	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total net revenues
1,870,976	1,992,149	2,000,457	1,868,874	1,702,221	1,865,971	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total net revenues						1,870,976	1,992,149	2,000,457	1,868,874	1,702,221	1,865,971	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of net revenues:
Systems
688,555	744,311	773,816	733,043	695,259	811,641	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Systems						688,555	744,311	773,816	733,043	695,259	811,641	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Services
469,409	453,527	400,658	411,114	361,773	298,489	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Services						469,409	453,527	400,658	411,114	361,773	298,489	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of net revenues
1,157,964	1,197,838	1,174,474	1,144,157	1,057,032	1,110,130	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total cost of net revenues						1,157,964	1,197,838	1,174,474	1,144,157	1,057,032	1,110,130	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross margin
713,012	794,311	825,983	724,717	645,189	755,841	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross margin						713,012	794,311	825,983	724,717	645,189	755,841	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Research and development
211,615	207,503	198,135	197,813	173,318	152,001	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development						211,615	207,503	198,135	197,813	173,318	152,001	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing
193,982	217,039	224,745	212,766	196,594	179,694	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing						193,982	217,039	224,745	212,766	196,594	179,694	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
189,635	204,552	203,978	204,005	181,100	175,174	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						189,635	204,552	203,978	204,005	181,100	175,174	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring and related
143,152	41,254	8,429	15,300	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Restructuring and related						143,152	41,254	8,429	15,300	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Litigation settlement and loss contingency expense
-	650	1,213	-8,632	64,371	17,632	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Litigation settlement and loss contingency expense						-	650	1,213	-8,632	64,371	17,632	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of purchased intangible assets
69,622	90,534	82,492	97,580	96,160	83,795	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of purchased intangible assets						69,622	90,534	82,492	97,580	96,160	83,795	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill impairment
17,384	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Goodwill impairment						17,384	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
825,390	761,532	718,992	718,832	711,543	608,296	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						825,390	761,532	718,992	718,832	711,543	608,296	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income (loss)
-112,378	32,779	106,991	5,885	-66,354	147,545	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income (loss)						-112,378	32,779	106,991	5,885	-66,354	147,545	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net
-33,197	-34,564	-31,455	-42,472	-44,344	-58,431	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net						-33,197	-34,564	-31,455	-42,472	-44,344	-58,431	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net
2,756	3,612	-2,588	-3,297	3,740	-20,761	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense), net						2,756	3,612	-2,588	-3,297	3,740	-20,761	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss before income taxes
-142,819	1,827	72,948	-39,884	-106,958	68,353	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss before income taxes						-142,819	1,827	72,948	-39,884	-106,958	68,353	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision
32,500	11,527	-7,409	-3,442	188,043	2,050	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax provision						32,500	11,527	-7,409	-3,442	188,043	2,050	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Consolidated net loss
-175,319	-9,700	80,357	-36,442	-295,001	66,303	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Consolidated net loss						-175,319	-9,700	80,357	-36,442	-295,001	66,303	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income (loss) attributable to noncontrolling interests
-1,490	-419	1,260	1,688	1,054	1,270	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income (loss) attributable to noncontrolling interests						-1,490	-419	1,260	1,688	1,054	1,270	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss attributable to VeriFone Systems, Inc. stockholders
-173,829	-9,281	79,097	-38,130	-296,055	65,033	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss attributable to VeriFone Systems, Inc. stockholders						-173,829	-9,281	79,097	-38,130	-296,055	65,033	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss per share attributable to VeriFone Systems, Inc. stockholders:
Basic (in dollars per share)
-1.55	-0.08	0.69	-0.34	-2.73	0.61	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						-1.55	-0.08	0.69	-0.34	-2.73	0.61	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
-1.55	-0.08	0.68	-0.34	-2.73	0.59	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						-1.55	-0.08	0.68	-0.34	-2.73	0.59	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average number of shares used in computing net loss per share attributable to VeriFone Systems, Inc. stockholders:
Basic (in shares)
111,817	110,829	114,044	111,586	108,609	107,006	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in shares)						111,817	110,829	114,044	111,586	108,609	107,006	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)
111,817	110,829	115,934	111,586	108,609	110,315	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)						111,817	110,829	115,934	111,586	108,609	110,315	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx