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| Online Resources Posts Record Second Quarter Results |
Statements of Operations
(in thousands, except per share data)
(Unaudited)
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THREE MONTHS ENDED
JUNE 30, |
SIX MONTHS ENDED
JUNE 30, |
| |
2001 |
2000 |
2001 |
2000 |
| Revenues: |
| Service fees |
$5,228 |
$2,865 |
$10,158 |
$5,182 |
| Implementation and other revenues |
780 |
614 |
1,414 |
1,296 |
| Total revenues |
6,008 |
3,479 |
11,572 |
6,478 |
| Expenses: |
| Cost of revenues |
3,559 |
3,156 |
7,207 |
6,151 |
| Gross profit |
2,449 |
323 |
4,365 |
327 |
| General & administrative |
1,852 |
1,501 |
3,598 |
3,163 |
| Selling and marketing |
1,550 |
2,162 |
3,061 |
4,429 |
| Systems and development |
1,468 |
1,685 |
2,971 |
3,112 |
| Non-recurring charges |
- |
- |
209 |
- |
| Total expenses |
4,870 |
5,348 |
9,839 |
10,704 |
| Loss from operations |
(2,421) |
(5,025) |
(5,474) |
(10,377) |
| Other income (expense) |
(271) |
217 |
(580) |
489 |
| Loss before extraordinary item and cumulative effect of change in accounting principle |
(2,692) |
(4,808) |
(6,054) |
(9,888) |
| Extraordinary item - gain on repurchase of debt |
1,083 |
- |
1,083 |
- |
| Cumulative effect of change in accounting principle |
- |
- |
- |
(217) |
| Net loss |
$(1,609) |
$(4,808) |
$(4,971) |
$(10,105) |
| Basic and diluted loss per share: |
| Loss from operations |
$(0.21) |
$(0.44) |
$(0.47) |
$(0.92) |
| Before extraordinary item and cumulative effect of change in accounting principle |
(0.23) |
(0.42) |
(0.52) |
(0.87) |
| Extraordinary item - gain on repurchase of debt |
0.09 |
- |
0.09 |
- |
| Cumulative effect of change in accounting principle |
- |
- |
- |
(0.02) |
| Net loss |
(0.14) |
(0.42) |
(0.43) |
(0.89) |
| Shares used in calculation of loss per share: |
| Basic and diluted |
11,680 |
11,541 |
11,664 |
11,338 |
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