Payment Terminal Vendor Reports Strong Growth

France-based Ingenico, the world’s leading supplier of payment terminals, reported $526 million in sales for fiscal year 2004, up 19% from $442 million the year before.
ingenico.gifThe company said the second half of 2004 was the company’s strongest six-month period ever after adjusting for currency fluctuations. Ingenico officials said they expect net income will be between 3.5% and 4% of sales. They say the strong results reflected demand for the company’s new family of terminals that comply with EMV, the international standard for banking smart cards, as well as enhanced manufacturing capacity and expanded services. Ingenico two years ago announced a plan to outsource all of its point-of-sale terminal production. The company has contracted out production to several companies, including CEC in China, Celestica in Spain, Jabil in the United Kingdom and Brazil, and SMTC in Mexico. Card Technology magazine ranked Ingenico as the world’s No. 1 vendor of payment terminals in 2003. The company says it sells more than 1.5 million terminals per year.
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