Mike Todd has been appointed ParTech, Americas’ Sales VP. In his new role, Todd will implement his 30-plus years of experience to provide leadership to PAR’s sales and channel teams in the Americas. Over the past 20 years, he held executive level positions at leading providers of hardware, software and services to the retail POS and enterprise solutions markets, in such roles as CEO with MATRA System, as VP, Sales and Marketing at Torex Retail, Americas and Vice President of Sales at Agilysys, Keylink Division, Retail Solutions. During his 22 years at Kyrus, Todd was President and Executive VP in three separate divisions. He also started IBM’s second POS distributor and increased revenues from zero to $45 million in six years.
Bob Christiansen has been appointed a C-level executive with Horizon Technology to lead further development of their GSD Database. Specifically, Robert will be responsible for advancing the practice and acceptance of the company’s core values, recruiting & developing IT staff, and creating & implementing strategic IT plans. Mr. Christiansen joins Horizon from ARM iNSIGHT, a loyalty and rewards provider to the prepaid debit card market. Prior to ARM iNSIGHT, Mr. Christiansen was co-founder of Bank Freedom, a VISA and MasterCard prepaid debit card provider. While at Bank Freedom he served as COO and EVP of New Business Development.
LaserCard Corporation secure ID solutions will present at the Morgan Keegan Security, Safety and Defense Conference to be held August 11 in New York. The presentation will discuss LaserCardâs position in the advanced technology, secure identity solutions market and the Companyâs technology-inclusive approach to delivering secure ID programs, from credential design and manufacture through full issuance system implementation. LaserCard Corporation provides secure ID solutions to governments and commercial clients worldwide. It develops, manufactures, and integrates LaserCard optical memory cards, multi-technology cards, encoders, peripherals, smart and specialty cards, biometrics, and modular software.
Global Cash Access 2Q/10 revenue dropped 9.1% since the year ago figure of $173.0 million to $157.2 million, thanks mostly to a weakening gaming sector and consumer revolving credit. Additionally, operating income was $13.7 million, a decrease of 29.0% over the $19.3 million recognized in the prior yearâs second quarter. Earnings before interest, taxes, depreciation and amortization were $17.8 million, a decrease of 25.2% compared to the same period in the prior yearâs second quarter. Income from continuing operations in the second quarter of 2010 was $5.9 million, down 35.2% from the second quarter of 2009.
Hypercom 2Q/10 saw a net revenue of $103.9 million, up 5.2% over 1Q/10 revenue of $98.8 million but down $1.7 million from the year ago figure of $105.6 million. This, however, was up a constant currency basis by $0.2 million or 0.2%. Additionally, gross profit for the quarter was $32.1 million, compared to 1Q/10 results of $34.7 million and 2Q/09 results of $34.2 million; operating expenses were $29.2 million or 28.1% of net revenue, compared to 2Q/09 figures of $31.3 million or 31.7% of net revenue in 1Q/10 and $30.4 million or 28.8% of net revenue; and operating expenses totaled $27.2 million or 26.2% of net revenue. Meanwhile, operating income was $2.9 million, compared to operating income of $3.4 million in last quarter and $3.9 million in 2Q/09.
HYPERCOM REVENUE HISTORICAL
2Q/08: $125.4 million
3Q/08: $121.1 million
4Q/08: $120.5 million
1Q/09: $ 82.8 million
2Q/09: $106.8 million
3Q/09: $101.2 million
4Q/09: $117.4 million
1Q/10: $ 98.8 million
2Q/10: $103.9 million
Source: CardData (www.carddata.com)
Consumers Credit Union of Waukegan will be implementing the Fiserv “Acumen” account processing solution, for its ability to support rapid growth and innovation as the credit union seeks to expand its member-base. The Credit Union also chose the processing solution for its scalable technology platform, because its hardware-independent, built on Internet-based technologies and a service-oriented architecture. The “Acumen” solution will be implemented in-house at Consumers Credit Union, which also selected the Fiserv solutions “LynxGate” for switch gateway processing and “Nautilus” for enterprise content management.
Although 2009 was tough for smart card IC suppliers, with total revenues actually declining 9.2% to $1.85 billion, this situation is projected to improve during 2010. The latest IMS Research forecasts Smart Cards IC Shipments to Reach 5.8 Billion in 2010 latest smart card and smart card IC dataset, IMS Research has concluded that the market for smart cards ICs is forecast to reach 5.8 billion units in 2010.Please contact IMS Research if you need any information on its smart card market services. IMS Research (www.imsresearch.com) is a supplier of market research and consultancy services on a wide range of global electronics markets.
Transaction Wireless (TW) virtual and mobile gift cards has been granted a US patent for its digital gifting and marketing platform technology. The newly issued patent protects the process and key elements utilized by Transaction Wireless for its gift card programs and services for retailers including the purchasing, delivery, ongoing management and redemption, as well as the personalization and marketing of gift cards. The Companyâs virtual and mobile platform is already launched with clients in retail, entertainment, wellness, hospitality and business-to-business markets.
Vivonet has inked agreements with Sodexo to deploy its Halo POS technology into the majority of Sodexo’s 6,000 North American client sites by 2015. Sodexo serves customers across a range of industries, including health care facilities, retirement homes, schools, college campuses and retail outlets. The value of this agreement is pegged to represent over $60 million in revenue to Vivonet over the period to 2015. Vivonet is the restaurant industry leader in SaaS solutions that enable, acquire and organize over one hundred million transactions every month for customers in Canada and the United States. Vivonet provides Halo Secure Web Based point of sale (POS) and on-demand enterprise management, POS, payment processing and performance benchmarking solutions for its customers.
Nick Daniel is joining the Transaction Services Division with VocaLink payments specialists as Sales Director. Bringing with him over 25 years’ experience, Nick will help support VocaLink’s commercial growth ambitions in the UK and internationally, identifying new growth opportunities for the division in the UK and internationally, as well as supporting the development of existing schemes.. He has held various sales and management positions in the UK, Europe and Latin America. Prior to joining VocaLink, he worked for CB.Net, the international payments reference data supplier, as Head of Business Development.
Although sales in most categories remained mostly flat compared to July 2009, in contrast to the sharper growth 1Q/10, eCommerce has posted gains throughout 2010. Moreover, the eCommerce segment regained double digit growth in July, increasing 10.9% on a year-over-year basis, in contrast to June, when for the first time since November 2009 it had dipped into single digits. This, according to the Mastercard SpendingPulse, also shows the Luxury Index grew 0.2% year-over-year; the Electronics and Appliances category posted its second month of year-over-year gains with 1% growth, compared to Juneâs 1.7% increase; and total apparel sales decreased by 1.1% in July, following Juneâs 3.3% year-over-year gain.
JUNE RETAIL SALES
TrustCash announced it’s prospecting the South American e-commerce market with its Payment Technology suite of services, particularly the mobile solutions currently under development. Mainly in Brazil, which is undergoing e-commerce growth in which 64.6 million people will use the internet in by 2013, South America is seeing exponential internet growth. Also in Brazil, e-commerce revenues nearly quadrupled to reach BRL3.8 billion ($2.2 billion) between 2005 and 2008. TrustCash delivers a sophisticated, comprehensive online payment processing.