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http://www.fool.com/News/mft/2006/mft06090614.htm?ref=foolwatch

VeriFone Collects More Cash: Fool by Numbers
By Anders Bylund
September 6, 2006

On Aug. 31, electronic payments equipment maker VeriFone Holdings (NYSE: PAY) released Q3 2006 earnings for the period ended July 31.

Wider margins plus increased sales equals happy shareholders, and VeriFone delivers on both counts this time.
Share dilution is somewhat disappointing, though not outrageous. Those extra shares also complicate the finances a bit, accounting for $1.7 million of the operational costs.
Cash flows turned south because of a $40 million increase in inventories in the quarter. That's presumably a stock buildup in anticipation of a new product release in the next quarter, a touch-screen device that can accept EMV "smart card" payments......
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