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Online Resources Posts Fourth Quarter And Full Year 2003 Results
Revenue and Earnings at High End of Expectations
Statements of Operations
(Unaudited)
(In thousands, except per share data)
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THREE MONTHS ENDED
DECEMBER 31, |
TWELVE MONTHS ENDED
DECEMBER 31,, |
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2003 |
2002 |
2003 |
2002 |
| Revenues: |
| Banking Services |
$ 840 |
$ 1,348 |
$ 4,064 |
$ 5,310 |
| Payment Services |
5,914 |
4,303 |
21,042 |
15,254 |
| Consumer Contact Services |
1,999 |
2,371 |
8,501 |
9,039 |
| Professional Services and Other |
969 |
474 |
4,801 |
2,751 |
| Total Revenues |
9,722 |
8,496 |
38,408 |
32,354 |
| Expenses: |
| Cost of Revenues |
3,881 |
3,482 |
15,503 |
14,628 |
| Gross Profit |
5,841 |
5,014 |
22,905 |
17,726 |
| General and Administrative |
2,374 |
1,849 |
8,627 |
7,038 |
| Selling and Marketing |
1,798 |
1,385 |
6,433 |
5,368 |
| System and Development |
955 |
1,057 |
3,831 |
4,345 |
| Total Expenses |
5,127 |
4,291 |
18,891 |
16,751 |
| Income (Loss) from Operations |
714 |
723 |
4,014 |
975 |
| Other Income (Expense) |
| Interest Income |
22 |
21 |
79 |
127 |
| Interest Expense |
(23) |
(281) |
(818) |
(1,260) |
| Other Expense |
- |
(1) |
- |
(36) |
| Debt Conversion Expense |
(314) |
(20) |
(495) |
(212) |
| Total Other Income (Expense) |
(315) |
(281) |
(1,234) |
(1,381) |
| Income (Loss) Before Income Taxes |
399 |
442 |
2,780 |
(406) |
| Income Tax Provision |
(26) |
- |
16 |
- |
| Net Income (Loss) |
$ 425 |
$ 442 |
$ 2,764 |
$ (406) |
| Net Income (Loss) Per Share: |
| Basic |
$ 0.02 |
$ 0.03 |
$ 0.18 |
$ (0.03) |
| Diluted |
$ 0.02 |
$ 0.03 |
$ 0.17 |
$ (0.03) |
| Shares used in calculation of Net Income (Loss) Per Share: |
| Basic |
15,450 |
13,580 |
14,429 |
13,473 |
| Diluted |
19,423 |
14,725 |
16,685 |
13,521 |
| Reconciliation of Net Income to EBITDA (See Note 1): |
| Net Income (Loss) |
$ 426 |
$ 442 |
$ 2,764 |
$ (406) |
| Depreciation |
1,009 |
756 |
3,364 |
2,644 |
| Other Income (Expense) |
315 |
281 |
1,234 |
1,381 |
| Taxes |
(26) |
- |
16 |
- |
| EBITDA (See Note 1) |
$ 1,723 |
$ 1,479 |
$ 7,378 |
$ 3,619 |
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1. EBITDA represents earnings (loss) before interest, taxes, depreciation and amortization, and gains or losses from extraordinary items.
Back
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
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