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| THREE MONTHS ENDED DECEMBER 31, |
TWELVE MONTHS ENDED DECEMBER 31, |
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| 2002 | 2001 | 2002 | 2001 | |
| Revenues: | ||||
| Service fees | $8,129 | $6,204 | $30,050 | $22,109 |
| Implementation and other revenues | 367 | 486 | 2,304 | 2,527 |
| Total revenues | 8,496 | 6,690 | 32,354 | 24,636 |
| Expenses: | ||||
| Cost of revenues | 3,482 | 3,545 | 14,628 | 14,314 |
| Gross profit | 5,014 | 3,145 | 17,726 | 10,322 |
| General & administrative | 1,849 | 1,624 | 7,038 | 6,931 |
| Selling and marketing | 1,385 | 1,390 | 5,368 | 5,931 |
| Systems and development | 1,057 | 1,350 | 4,345 | 5,855 |
| Non-recurring charges | - | - | - | 209 |
| Total expenses | 4,291 | 4,364 | 16,751 | 18,926 |
| Income (loss) from operations | 723 | (1,219) | 975 | (8,604) |
| Other income (expense) | (281) | (265) | (1,169) | (1,175) |
| Debt conversion expense | - | (249) | (212) | (1,116) |
| Income/ (loss) before extraordinary item | 442 | (1,733) | (406) | (10,895) |
| Extraordinary item - gain on repurchase of debt | - | - | - | 1,083 |
| Net income (loss) | $442 | $(1,733) | $(406) | $(9, 812) |
| Basic and diluted net income (loss) per share: | 0.03 | (0.13) | (0.03) | (0.82) |
| Shares used in calculation of net income (loss) per share: | ||||
| Basic | 13,654 | 13,115 | 13,521 | 12,026 |
| Diluted | 14,725 | 13,115 | 13,521 | 12,026 |
| EBITDA (1) | $ 1,479 | $ (694) | $ 3,619 | $ (6,496) |
(1) EBITDA represents earnings (loss) before interest, taxes, depreciation and amortization, and gains or losses from extraordinary items.
Media Contact: Beth Halloran,
Director, Corporate Communications
703.394.5248
bhalloran@orcc.com
Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.394.5155
cgraham@orcc.com