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Payment processor Heartland sets revenue record

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    Princeton-based payment processor Heartland Payment Systems announced its second quarter results Friday, with quarterly net revenue setting a record.

    Heartland said net revenue in the second quarter was $159.4 million, up 6.4 percent from the same period in 2013. However, adjusted net income of $21 million, or 58 cents per share, declined slightly from $23.1 million, or 62 cents per share, in the year-ago quarter.

    “Second quarter results were led by an acceleration in the rate of growth in card transaction processing volume and revenue as a result of our strong new business momentum,” Robert O. Carr, chairman and CEO, said in a statement. “New margin installed set another record this quarter, for the first time exceeding $20 million in a quarter, a clear sign that our value proposition is resonating with merchants and our sales efficiency is continuing to improve.”

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    Eric Strauss

    Eric Strauss

    Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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