Online Resources Receives and Cures NASDAQ Delisting Notice
CHANTILLY, Va., August 19, 2005
Online Resources Corp. (NASDAQ: ORCC), a leading outsourcer of Internet financial services, today announced that it received on August 18, 2005, then cured on August 19, 2005, a notice of potential delisting from Nasdaq Stock Market. The Nasdaq notice was delivered in connection with the delayed filing of the Company's Form 10-Q for the period ended June 30, 2005.
The Company filed its Form 10-Q with the Securities and Exchange Commission on August 19, 2005, along with restatements of prior periods that were affected by its change in operating policy for unclaimed bill payments. The Company is now in compliance with the listing standard regarding filing of reports.
About Online Resources
Online Resources powers Internet financial services for over 700 firms
nationwide. The Company's proprietary account presentation, payment, relationship
management and professional services are branded to its client banks,
credit unions, card issuers and payment acquirers. The Company serves
over three million consumer end-users and processes over $12 billion in
payments annually. 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.
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; dependence on the marketing
efforts of third parties; potential fluctuations in operating results;
ability to make and successfully integrate acquisitions of new businesses;
potential need for additional capital; potential inability to prevent
systems failures and security breaches; potential inability to expand
services and related products in the event of substantial increases in
demand; competition; ability to attract and retain skilled personnel;
reliance on patents and other intellectual property; exposure to the early
stage of market adoption of the services it offers; exposure to the consolidation
of the banking and financial services industry; and additional 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
Online Resources Corporation
703.653.2248
bhalloran@orcc.com
Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.653.3155
cgraham@orcc.com
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