Skip to Page Content

Press Releases

Online Resources Posts Second Quarter 2005 Results

Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share data)

  THREE MONTHS ENDED
JUNE 30,		 SIX MONTHS ENDED
JUNE 30,
  2005 2004 2005 2004
Revenues:
  Account Presentation services $ 2,198 $ 777 $ 15,025 $ 1,562
  Payment Services 8,695 6,791 17,138 13,127
  Relationship Management Services 1,912 1,933 3,957 3,864
  Professional Services and Other 1,524 568 3,321 1,283
    Total Revenues 14,329 10,069 29,441 19,836
Expenses:
  Cost of Revenues 5,870 4,135 11,553 8,584
Gross Profit 8,469 5,934 17,888 11,252
  General and Administrative 3,353 2,086 6,458 4,198
  Selling and Marketing 2,491 1,784 4,966 3,651
  System and Development 1,024 879 2,299 1,814
    Total Expenses 6,868 4,749 13,813 9,663
Income from Operations 1,591 1,185 4,075 1,589
Other income
  Interest Income 322 26 351 52
  Interest Expense 5 1 9 3
    Total Other Income 317 25 342 49
Income Before Taxes 1,908 1,210 4,417 1,638
Income Tax Provision 135 9 195 18
  Net Income $ 1,773 $ 1,201 $ 4,222 $ 1,620
Net Income Per Share:
  Basic $ 0.07 $ 0.07 $ 0.19 $ 0.09
  Diluted $ 0.07 $0.06 $ 0.18 $ 0.08
Shares used in calculation of Net Income Per Share:
  Basic 24,155 18,004 21,770 17,944
  Diluted 26,509 20,030 24,124 20,085
Reconciliation of Net Income to EBITDA (See Note 1):
  Net Income $ 1,773 $ 1,201 $ 4,222 $ 1,620
  Depreciation and amortization 1,513 961 2,796 1,930
  Other Income (317) (25) (342) (49)
  Income Tax Provision 135 9 195 18
  EBITDA1 $ 3,104 $ 2,146 $ 6,871 $ 3,519

1. EBITDA represents earnings before interest, taxes, depreciation and amortization.

Back

Media Contact: Beth Halloran,
Director, Corporate Communications
Online Resources Corporation
703.653.2248
bhalloran@orcc.com

Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.653.3155
cgraham@orcc.com