Upset due to the cost of service increase, a below expected profit rather a net loss of $9.6 million, or 26 cents a share, was reported by Heartland Payment Systems Inc., as compared to the last year's net income of $8 million, or
21 cents a share. The provider of credit and debit card service anticipates its earnings in ranging from 95 cents to $1 for the year 2010.

According to Thomson Reuters, the company earned 16 cents a share against the expectations of analysts who predicted earnings of 20 cents a share excluding shares. The total revenue was 9% to $420 million also the cost of service was recorded to be $382.6 million or 9% up. On the New York stock exchange, the shares of the company closed at $15.40 on Wednesday.

Robert Carr, Chairman and CEO said, "Adjusted earnings for the quarter, which is net of $0.03 per share of stock compensation expense, was consistent with our guidance. The sense of both an underlying shift in market direction as well as the increased focus on our growth opportunities we believe provide a solid foundation from which to pursue our long term objectives in 2010. We expect this will enable us to gain share this year, as well as to experience significant growth as the economy recovers and more merchants seek a competitive solution".