UPDATE 1-Heartland Payment Q1 misses Street view

* Q1 adj EPS $0.04 vs est $0.15

* Q1 EPS $0.36 vs loss/shr $0.07 last yr

* Q1 net rev up 5 pct to $103.8 mln

* Sees FY’10 EPS $0.95-$1, excl. items

* Sees FY’10 rev $460mln-$475 mln

May 6 (BestGrowthStock) – Payments processor Heartland Payment
Systems Inc (HPY.N: ) reported a quarterly profit that fell below
market expectations, hurt by a 13 percent rise in costs of

For the full year, the company expects net revenue to grow
in a range of 10 and 13 percent, to between $460 million and
$475 million. Earnings in 2010 are forecasted at between 95
cents and $1.00 per share, excluding items.

Net income for the first quarter was $14.2 million or 36
cents a share, compared with a loss of $2.5 million, or 7 cents
a share last year.

Adjusted net income was $1.6 million or $0.04 per share,
the company said in a statement.

Net revenue rose about 5 percent to $103.8 million.

Analysts on average were looking for a profit of 15 cents a
share, before items, on revenue of $105.8 million, according to
Thomson Reuters I/B/E/S.

Costs of services, which includes interchange and
processing expenses, was $381.5 million, up from $338 million a
year ago.

Shares of the company closed at $17.91, Wednesday on the
New York Stock Exchange.

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(Reporting by Brenton Cordeiro in Bangalore; Editing by
Prem Udayabhanu)

UPDATE 1-Heartland Payment Q1 misses Street view