PYDS, under .10, super strong revenue growth. Bottom line net postive income. Continuing 'strong outlook' for the rest of the year. They previously said something like $1.7-2.0 NET income for the year. Their NET for last 2 qtrs 2011 was around 730K so maybe the last 2 quarters are their strongest ones.. We'll see..
SAN ANTONIO--(BUSINESS WIRE)--
Payment Data Systems, Inc. ( PYDS), an integrated electronic payments solutions provider, today announced financial results for the quarter ended June 30, 2012.
Revenues increased 91% to $1,469,702 for the second quarter of 2012 up from $768,359 for the second quarter of 2011 due to higher transaction growth. The operating income for the quarter ended June 30, 2012 was $134,873 compared to operating loss of $169,084 for the second quarter of 2011. Net income for the quarter ended June 30, 2012 was $104,306 up from a net loss of $238,481 for the second quarter of 2011.
Highlights for the second quarter of 2012 include:
Gross profit increased 231% to $561,609 from $169,817 from the second quarter of 2011 Cash and cash equivalents grew to $1,896,487 up from $318,471 in the second quarter of 2011 Total current assets grew to $2,217,202 from $516,422 in the second quarter of 2011 Commenting on the results for the quarter, Michael R. Long, Chairman and Chief Executive Officer of Payment Data Systems, said, “The continued growth we experienced this quarter has caused us to remain very positive about the remaining months of 2012 and beyond. We are particularly excited about the growth we anticipate in the third quarter. As of the date of this press release, we have already processed 30% more transactions than we did in the whole second quarter.”
Mr. Long continued, “All of our metrics, both financial and operational, remained at positive levels. As you recall, we experienced tremendous growth in the prior year with record growth in revenues and income from operations, and we have now established four consecutive quarters of profitability. We are continuing our strong outlook for the remainder of 2012.”
|
