Hypercom sees nearly $10 million loss

Thursday, May 7, 2009, 6:59pm MST | Modified: Thursday, May 7, 2009, 7:15pm

Phoenix Business Journal

Hypercom Corp. reported a net loss of $9.9 million in the first quarter, the result of more money spent on operating expenses and research and development.

The loss, 19 cents per share, is higher than the $332,000 loss Scottsdale-based Hypercom (NYSE:HYC) reported for the same quarter last year.

Hypercom, which continues to feel the effect of its purchase of the Thales e-Transaction unit last year, saw revenue increase about 18 percent from $49.5 million in the first quarter last year to $57.9 million this year.

Philippe Tartavull, the company’s CEO and president, said the results are low because of the seasonable nature of the business as well as poor global economic conditions.

“Currently, we see improved order flow and market conditions,” he said. “We are executing on our plan and are focused on continuing to gain market share, improve margins, reduce inventory and optimize operating expenses with a continual focus on security and quality.”