Online Resources Recognized For High Growth
Fourth Consecutive Year Ranked on Technology Fast 500 by Deloitte & Touche
MCLEAN, Va., November 2, 2004
Online Resources Corp. (Nasdaq: ORCC), a leading outsourcer of Internet banking and payment services, today announced it has been named one of the nation's 500 fastest growing technology companies by Deloitte & Touche for the fourth year in a row. The 2004 Deloitte & Touche Technology Fast 500 rankings are based on percentage revenue growth over five years from 1999 to 2003.
"This recognition is as much a testament to our clients, as it is to the Company itself," stated Matthew P. Lawlor, chairman and chief executive officer of Online Resources. "Our high consistent growth was achieved organically in partnership with our clients, with the common vision that high consumer adoption of Internet banking and payments is the key to channel profitability."
"Now more than ever," Lawlor added, "from this solid foundation, we are poised to take our clients and our company to a new level. The Internet channel is still young, and we are looking forward to bringing consumer adoption to mass market levels, and the opportunity to use our relationship management capabilities to deepen consumer relationships with our clients."
"Being one of the 500 fastest growing technology companies in North America is an impressive accomplishment. We commend Online Resources for making the Deloitte Technology Fast 500 with a phenomenal 355 percent growth rate over five years," said Mark A. Evans, national managing partner of Deloitte's Technology, Media & Telecommunications Group.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 19 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1999 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2003 operating revenues must be at least $1 million USD or CD.
Entrants must also be public or private companies headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
About Online Resources
Online Resources powers Internet financial services for 700 firms nationwide. The Company's account presentation, payment and relationship marketing services are branded to its client banks, credit unions and payment acquirers. The Company annually processes over 100 million transactions and $10 billion in payments for one million consumer end-users. Founded in 1989, Online Resources (Nasdaq: orcc, Website: www.orcc.com) has been widely recognized as one of the nation's fastest growing technology firms.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP.
This news release contains statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed to be a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specifically factors that might cause such a difference include, but are not limited to: the company's history of losses and anticipation of future losses; the company's dependence on the marketing efforts of third parties; the potential fluctuations in the company's operating results; the company's potential need for additional capital; the company's potential inability to expand the company's services and related products in the event of substantial increases in demand for these services and related products; the company's competition; the company's ability to attract and retain skilled personnel; the company's reliance on the company's patents and other intellectual property; the early stage of market adoption of the services it offers; consolidation of the banking and financial services industry; and those risks and uncertainties discussed in filings made by the company with the Securities and Exchange Commission, including those risks and uncertainties contained under the heading "Risk Factors" in the company's Form 10-K, latest 10-Q, and S-3 as filed with the Securities and Exchange Commission. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements.
Media Contact: Beth Halloran,
Director, Corporate Communications
703.394.5248
bhalloran@orcc.com
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