Lipman Electronics Engineering (Nasdaq: LPMA; TASE: LPMA) today announced that four of its Nurit brand point of sale (POS) terminals have been certified by NOVA Information Systems, an industry leading provider of payment processing infrastructure in the US and Europe. With this certification, these terminals can be sold and supported by NOVA.
Lipman's NURIT 8000S, 8230 and 2085 terminals have received Class A certification and the NURIT 8100 Class B certification from NOVA. The 8000S, 8100 and 8230 can support the full range of NOVA payment processing applications, including credit, debit, checks and gift cards, electronic checks and dynamic currency conversion, while the 2085 can support credit, debit and gift card transactions.
NOVA is a wholly owned subsidiary of US Bancorp (USB). Combined, NOVA and its affiliate euroConex and Elan, provide global merchant processing services to financial institutions and customers in the United States, Canada, and Europe. NOVA offers integrated payment processing services to more than 800,000 merchants in the US and Europe.
NOVA executive VP business development and global operations David Strider said, "We are pleased to incorporate Lipman to our list of industry leading partners and look forward to a long, successful relationship."
Lipman USA president and CEO Robert Striano said, "Receipt of these certifications is an important stepping-stone in our strategy to grow Lipman's US business both with financial institutions as well as with the independent sales organizations (ISOs) market, which has traditionally represented our primary focus. We have made a great deal of progress in this respect during 2005 and have laid the foundation for the continued growth of Lipman USA in 2006."
Lipman's net profit for the third quarter of 2005 was $7.8 million, or $0.28 per share, compared with $9.6 million, or $0.35 per share, for the comparable period in 2004. Revenue was $54.1 million for the third quarter of 2005, compared with revenue of $44.5 million for the third quarter of 2004.
Published by Globes [online], Israel business news - www.globes.co.il - on Tuesday, January 10, 2006