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Online Resources Posts Fourth Quarter And Annual 2004 Results
Earnings Up Sharply, In Line with Raised Guidance
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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2004 |
2003 |
2004 |
2003 |
| Revenues: |
| Account presentation services |
$740 |
$840 |
$3,030 |
$4,064 |
| Payment Services |
7,801 |
5,914 |
28,277 |
21,042 |
| Relationship management services |
2,014 |
1,999 |
7,895 |
8,501 |
| Professional Services and Other |
848 |
969 |
3,084 |
4,801 |
| Total Revenues |
11,403 |
9,722 |
42,286 |
38,408 |
| Expenses: |
| Cost of Revenues |
4,095 |
3,881 |
16,202 |
15,503 |
| Gross Profit |
7,308 |
5,841 |
26,084 |
22,905 |
| General and Administrative |
3,115 |
2,374 |
9,931 |
8,627 |
| Selling and Marketing |
2,017 |
1,609 |
5,399 |
4,635 |
| System and Development |
954 |
955 |
3,793 |
3,831 |
| Total Expenses |
6,086 |
5,127 |
21,140 |
18,891 |
| Income (Loss) from Operations |
1,222 |
714 |
4,944 |
4,014 |
| Other Income (Expense) |
| Interest Income |
64 |
22 |
147 |
79 |
| Other Income |
5 |
- |
38 |
- |
| Interest Expense |
(6) |
(23) |
(3) |
(818) |
| Debt Conversion Expense |
- |
(314) |
- |
(495) |
| Total Other Income (Expense) |
63 |
(315) |
182 |
(1,234) |
| Income (Loss) Before Income Taxes |
1,285 |
399 |
5,126 |
2,381 |
| Income Tax Provision |
75 |
(26) |
146 |
16 |
| Net Income (Loss) |
$1,210 |
$425 |
$4,980 |
$2,764 |
| Net Income (Loss) Per Share: |
| Basic |
$ 0.07 |
$ 0.02 |
$ 0.28 |
$ 0.18 |
| Diluted |
$ 0.06 |
$ 0.02 |
$ 0.25 |
$ 0.17 |
| Shares used in calculation of Net Income (Loss) Per Share: |
| Basic |
18,208 |
17,253 |
18,057 |
15,141 |
| Diluted |
20,195 |
19,423 |
20,128 |
16,685 |
| Reconciliation of Net Income to EBITDA (See Note 1): |
| Net Income (Loss) |
$ 1,210 |
$ 425 |
$ 4,980 |
$ 2,764 |
| Depreciation |
926 |
1,009 |
3,693 |
3,364 |
| Other Income (Expense) |
(63) |
315 |
(182) |
1,234 |
| Taxes |
75 |
(26) |
146 |
16 |
| EBITDA (See Note 1) |
$ 2,148 |
$ 1,723 |
$ 8,637 |
$ 7,378 |
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Notes:
1. EBITDA represents earnings before interest, taxes, depreciation and amortization, and gains or losses from extraordinary items.
Back
Media Contact: Beth Halloran,
Director, Corporate Communications
703.653.2248
bhalloran@orcc.com
Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.653.3155
cgraham@orcc.com
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