US Dataworks boss anticipates profitability in 2008
Friday June 29, 11:16 am ET
Payment processing solutions developer US Dataworks Inc. on Friday said it made a net loss of $1.3 million, or 4 cents a share, on revenue of $2.3 million in its fourth quarter, ended March 31.
The figures compare with a net loss of $47,694, or zero per share, on revenue of $2 million in the same quarter last year.
The operating loss for this year's fourth quarter was $1.16 million, compared with operating income of $232,130 for the fourth quarter last year.
For the full year, Houston-based US Dataworks (AMEX: UDW) reported a net loss of $3.3 million, or 11 cents a share, on revenue of nearly $7 million, compared with a net loss of $818,157 or 3 cents a share, on revenue of just under $7 million in 2006.
The operating loss for the year was $2.9 million compared with an operating loss of $409,365 in 2006.
Commenting on the results, Charles E. Ramey, chief executive officer of US Dataworks, said the company believes demand for its software and professional services will continue to grow steadily.
"We are estimating fiscal 2008 revenues to be in the range of $12 million to $16 million, which is expected to produce profitability," he said.
US Dataworks is a developer of payment processing solutions, focused on the financial services market, federal, state and local governments, billers and retailers. |
