NJ-based Heartland Payment Systems (HPS) reported Small and Mid-Sized Enterprise (SME) transaction processing volume was a quarterly record $24.5 billion for 3Q/15, up 13.1% from the third quarter of 2014.
Quarterly net revenue was a record $214.6 million, up 26.7% from the third quarter of 2014, with organic net revenue growth of 11.3% for the quarter.
Quarterly net income was $23.9 million, up 16.6% from $20.5 million in the third quarter of 2014.
Same store sales were up 4.1% year-on-year YOY. Net volume attrition was up 9.1%.
SME card transaction processing volume growth for the quarter rose 13.1% YOY compared to the third quarter of 2014, driven by new margin installs, growth in same store sales and improved net volume attrition.
SME card transaction processing volume in both the third quarters of 2015 and 2014 includes Visa, MasterCard, Discover and Amex OptBlue, the latter of which HPS first began including in volume in the third quarter of 2014.
HPS total non-card segments grew their revenue by 61% for the quarter as a result of both organic and acquisition related growth.
HPS SME TRANSACTION VOLUME
3Q/14: $20.4 billion
4Q/14: $20.2 billion
1Q/15: $21.7 billion
2Q/15: $23.8 billion
3Q/15: $24.5 billion
For full year 2015, HPS expects to deliver net revenue growth in excess of 20%, to between approximately $810 million and $815 million.
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