Short: VeriFone's net profits are up

Electronic payment systems provider 's third-quarter net profits rose 18.2 percent partially thanks to reduced expenses. VeriFone reported earnings of $11 million up from $9.3 million a year ago. Revenues rose 17.7 percent over last year to $120.9 million. The company said operating expenses in relation to net revenues fell to 33.1 percent compared with 36.7 percent a year ago.