This one is coming out of a dip fast this morning:
Electronic Clearing House Boasts Net Income
Increase of 316 Percent for First Quarter Fiscal
1999
Highlights: Net Income Increased 316 Percent; Revenue Increased 29.8 Percent
AGOURA HILLS, Calif.--(BUSINESS WIRE)--Jan. 25, 1999-- Electronic Clearing House Inc. (Nasdaq:ECHO -
news) reported fiscal 1999 first quarter net earnings of $258,000, compared with net earnings of $62,000 for the same
period last year, a 316 percent increase, resulting in basic net earnings per share of $0.0163 and diluted net earnings per
share of $0.0113, compared with $0.004 and $0.003 per share, respectively, for the same period last year.
Revenues for the first quarter of fiscal 1999 totaled $5,469,000, a 29.8 percent increase over revenues of $4,212,000
for the same period last year.
Electronic Clearing House provides credit card processing, check guarantee, inventory tracking services and various
Internet services to more than 17,000 retail merchants and U-Haul dealers across the nation.
Through its subsidiary, Computer Based Controls, ECHO designs, develops and manufactures software and
point-of-sale hardware that is utilized as credit card processing terminals, automated money order dispensers, utility bill
payment systems, and inventory tracking devices.
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