US Dataworks, Inc. Announces Record Fourth Quarter and Year-End Financial Results
Thursday June 29, 8:30 am ET
- Company Reports Income from Operations during Quarter -
HOUSTON, June 29 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (Amex: UDW - News), a leading developer of payment processing solutions, today announced financial results for its fiscal 2006 fourth quarter and year-end results ended March 31, 2006.
Revenues for the fourth quarter ended March 31, 2006 were $2,075,992 compared with revenues of $655,848 for the same period a year ago. Income from operations for the fourth quarter was $232,130 compared to an operating loss of $1,444,251 for the fourth quarter ended March 31, 2005. Net loss for the fourth quarter was $47,694 or $(0.00) per share, compared to a net loss of $1,447,425 or $(0.05) per share, for the corresponding period in the prior year.
Revenues for the year ended March 31, 2006 were $6,975,177 compared with the revenues of $2,686,749 for the same period a year ago. Loss from operations for the year ended was $409,365 compared to an operating loss of $4,954,766 for the year ended March 31, 2005. Net loss for the year ended was $818,157 or $(0.03) per share, compared to a net loss of $6,459,279 or $(0.24) per share, for the corresponding period in the prior year.
"We are very pleased with our reported fourth quarter and year-end results," said Charles E. Ramey, Chief Executive Officer of US Dataworks. "Our revenues increased by 160% during fiscal 2006."
"Our leveraged business model has begun to yield results, as seen in the fourth quarter, which provided income from operations of $232,130, mostly due to the release of Clearingworks(TM), our comprehensive solution for automated payment processing. The company is well positioned for fiscal 2007, as seen in recent announcements with various financial services companies including Online Resources Corp. (ORCC), Bank of Oklahoma, and a significant financial transaction processor. Combined, we believe these relationships will continue the company's growth into fiscal 2007."
A conference call is scheduled for today, at 10:00 AM EDT. Interested parties may participate in the call by dialing (877) 407-8293; international callers dial 201-689-8349 about 5-10 minutes prior to 10:00 AM EDT. The conference call will also be available on replay starting at 12:00 noon EDT on June 29, 2006, and ending on July 29, 2006. For the replay, please dial (877) 660-6853 (replay account # 269, replay conference # 206810). The access number for the replay for international callers is (201) 612-7415 (replay account # 269, replay conference # 206810).
About US Dataworks, Inc.
US Dataworks is a developer of payment processing solutions, focused on the Financial Services market, Federal, State and local governments, billers and retailers. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions that automate end-to-end processes for accepting and clearing checks. |
