Hypercom posted 4Q/10 and FY/10 fiscals with 4Q/10 revenue of $140.7 million for a 20% increase over 4Q/09. For the quarter, the Company also posted $48.1 million in gross profit (34.2% of revenue) from the year ago figure of $36.8 million and $40.1 million in 3Q/10. For the full year, net revenues increased 15% or $61.5 million from $406.9 million in 2009 to $468.4 million in 2010. Non-GAAP operating income in 2010 increased to $36.7 million from $17.3 million in 2009 and non-GAAP net income before discontinued operations increased from $11.8 million to $27.2 million in 2010.
VeriFone Systems will acquire Hypercom in an historic all-stock transaction, approved by Hypercom stockholders on February 24 and should close in 2H/11, but is subject to the satisfaction of applicable regulatory approvals and other customary closing conditions.