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| THREE MONTHS ENDED JUNE 30, |
SIX MONTHS ENDED JUNE 30, |
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| 2003 | 2002 | 2003 | 2002 | |
| Revenues: | ||||
| Banking Services | $ 943 | $ 1,329 | $ 2,251 | $ 2,630 |
| Payment Services | 4,888 | 3,604 | 9,463 | 6,995 |
| Consumer Contact Services | 1,977 | 2,226 | 4,393 | 4,338 |
| Professional Services and Other | 609 | 720 | 3,320 | 1,743 |
| Total Revenues | 8,417 | 7,879 | 19,427 | 15,706 |
| Expenses: | ||||
| Cost of Revenues | 3,760 | 3,674 | 7,611 | 7,607 |
| Gross Profit | 4,657 | 4,205 | 11,816 | 8,099 |
| General and Administrative | 1,900 | 1,680 | 4,212 | 3,386 |
| Selling and Marketing | 1,481 | 1,309 | 3,026 | 2,573 |
| System and Development | 956 | 1,069 | 1,846 | 2,270 |
| Total Expenses | 4,337 | 4,058 | 9,084 | 8,229 |
| Income (Loss) from Operations | 320 | 147 | 2,732 | (130) |
| Other Income (Expense) | ||||
| Interest Income | 14 | 33 | 37 | 80 |
| Interest Expense | (274) | (313) | (586) | (664) |
| Other Expense | - | - | - | (34) |
| Debt Conversion Expense | (181) | - | (181) | (192) |
| Total Other Income (Expense) | (441) | (280) | (730) | (810) |
| Income (Loss) Before Income Taxes | (121) | - | 2,002 | (940) |
| Income Tax Provision | 27 | - | 27 | - |
| Net Income (Loss) | $ (148) | $ (133) | $ 1,975 | $ (940) |
| Net Income (Loss) Per Share: | ||||
| Basic | $ (0.01) | $ (0.01) | $ 0.14 | $ (0.07) |
| Diluted | $ (0.01) | $ (0.01) | $ 0.13 | $ (0.07) |
| Shares used in calculation of Net Income (Loss) Per Share: | ||||
| Basic | 14,109 | 13,557 | 13,909 | 13,419 |
| Diluted | 14,109 | 13,557 | 14,847 | 13,419 |
| Reconciliation of Net Income to EBITDA (See Note 1): | ||||
| Net Income (Loss) | $ (148) | $ (133) | $ 1,975 | $ (940) |
| Depreciation | 742 | 633 | 1,495 | 1,193 |
| Other Income (Expense) | 441 | 280 | 730 | 810 |
| Taxes | 27 | - | 27 | - |
| EBITDA (See Note 1) | $ 1,062 | $ 780 | $ 4,227 | $ 1,063 |
1. EBITDA is commonly used in our industry as a measure of cash earnings. Investors may use EBITDA to gauge our ability to generate cash from operations and therefore, our ability to reinvest in the growth of our business.
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