(By Salman - iStockAnalyst Writer)Late on Tuesday, Global Payments Inc. (NYSE: GPN) announced that its fiscal second-quarter net income increased 28% to 60 cents a share from 48 cents a share in the comparable quarter a year ago. The Atlanta-based electronic transaction processing services provider said that quarterly revenue rose to $401.1 million from $308.8 million a year earlier. Analysts on average had predicted earnings of 57 cents a share and revenue of $404.9 million. For the full year 2009, the company expects to report earnings in the range of $2.14 to $2.21 a share on revenue of $1.55 billion to $1.58 billion. Chairman and Chief Executive Paul R. Garcia said in a statement "We are pleased with our strong second-quarter financial performance, in spite of the difficult macro environment." Shares of Global Payments Inc. fell 4.40% in after hours trade on Tuesday.

Standard Microsystems Corp. (NASDAQ: SMSC) registered a third quarter net income of $9.1 million or 41 cents a share, compared to $8.7 million or 36 cents a share in the corresponding quarter a year ago. Revenue dropped 19.5% to $84.3 million from $104.7 million in the previous year. Street analysts had forecast earnings of 29 cents a share on revenue of $83.83 million for the quarter. Looking forward, for the fourth quarter the company expects loss to be in the range of 40 cents to 55 cents a share, excluding charges and revenue in the range of $45 to $51 million. Chief Executive Christine King said in a statement. “The broad based malaise in our industry driven by unprecedented economic conditions is causing weak end-customer demand in all geographies." He added that the company would take appropriate actions to right size business" as it counters the weak economic conditions. Shares of Standard Microsystems plummeted 7.34% in evening trade.

Landec Corp. (NASDAQ: LNDC),a developer and marketer of patented polymer products for food, agriculture and licensed partner applications, reported that its second quarter net income slipped to $1.50 million or 6 cents a share from $3.13 million or 12 cents a share in the same quarter in 2007. Revenue decreased to $58.04 million, from $58.96 million in the year ago quarter. Analysts on average were looking for earnings of 10 cents a share on revenue of $61.78 million for the quarter. Looking ahead, for the full fiscal year 2009, the company expects that it would fall short of its original guidance of 10% revenue growth and 15% to 20% pre-tax net income growth. Gary Steele, Chief Executive Officer stated, "At this point in time, due to the uncertainty of the U.S. economy and consumer spending, we cannot forecast with any degree of reliability our financial results for all of fiscal year 2009, except that we expect to generate net income and positive cash flow from operations." Landec Corp. jumped 5.21% in late trading.

Professional services firm Resources Connection Inc.