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Online Resources Posts Third Quarter 2004 Results
Increased Adoption and Operating Leverage Fuel Strong Earnings Growth
Statements of Operations
(Unaudited)
(In thousands, except per share data)
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THREE MONTHS ENDED
SEPTEMBER 30, |
NINE MONTHS ENDED
SEPTEMBER 30, |
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2004 |
2003 |
2004 |
2003 |
| Revenues: |
| Banking Services |
$ 728 |
$ 973 |
$ 2,290 |
$ 3,224 |
| Payment Services |
7,349 |
5,665 |
20,476 |
15,128 |
| Consumer Contact Services |
2,017 |
2,109 |
5,881 |
6,502 |
| Professional Services and Other |
953 |
512 |
2,236 |
3,832 |
| Total Revenues |
11,047 |
9,259 |
30,883 |
28,686 |
| Expenses: |
| Cost of Revenues |
3,879 |
4,011 |
12,107 |
11,622 |
| Gross Profit |
7,168 |
5,248 |
18,776 |
17,064 |
| General and Administrative |
2,262 |
2,041 |
6,816 |
6,253 |
| Selling and Marketing |
1,748 |
1,609 |
5,399 |
4,635 |
| System and Development |
1,025 |
1,030 |
2,839 |
2,876 |
| Total Expenses |
5,035 |
4,680 |
15,054 |
13,764 |
| Income (Loss) from Operations |
2,133 |
568 |
3,722 |
3,300 |
| Other Income (Expense) |
| Interest Income |
31 |
20 |
83 |
57 |
| Other Income |
33 |
- |
33 |
- |
| Interest Expense |
6 |
(209) |
3 |
(795) |
| Debt Conversion Expense |
- |
- |
- |
(181) |
| Total Other Income (Expense) |
70 |
(189) |
(119) |
(919) |
| Income (Loss) Before Income Taxes |
2,203 |
379 |
3,841 |
2,381 |
| Income Tax Provision |
53 |
15 |
71 |
42 |
| Net Income (Loss) |
$ 2,150 |
$ 364 |
$ 3,770 |
$ 2,339 |
| Net Income (Loss) Per Share: |
| Basic |
$ 0.12 |
$ 0.02 |
$ 0.21 |
$ 0.16 |
| Diluted |
$ 0.11 |
$ 0.02 |
$ 0.19 |
$ 0.15 |
| Shares used in calculation of Net Income (Loss) Per Share: |
| Basic |
18,128 |
15,450 |
18,007 |
14,429 |
| Diluted |
20,032 |
17,418 |
20,057 |
15,279 |
| Reconciliation of Net Income to EBITDA (See Note 1): |
| Net Income (Loss) |
$ 2,150 |
$ 364 |
$ 3,770 |
$ 2,339 |
| Depreciation |
838 |
860 |
2,767 |
2,355 |
| Other Income (Expense) |
(70) |
189 |
(119) |
919 |
| Taxes |
53 |
15 |
71 |
42 |
| EBITDA (See Note 1) |
$ 2,971 |
$ 1,428 |
$ 6,489 |
$ 5,655 |
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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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