Digital Insight Reports Fourth-QuarterSurge In Earnings
CALABASAS, Calif. - (02/16/06) Online services providerDigital Insight Corp. Said Wednesday that net income for its fourthquarter doubled to $7.6 million, or 21 cents a share, compared tothe same period in 2004. Fourth quarter highlights included a dealwith PSCU Financial Services to take over the companyslending call center, which is projected to provide Digital Insightwith as much as $1 million a year in cost savings. As part of thedeal, PSCU also named Digital Insight as preferred provider ofInternet banking, business banking and lending products for its 500credit union clients. Revenues for the fourth quarter rose 16% to$56.7 million. For the fiscal year, Digital Insight reported a 13%increase in revenues to $214 million, and a 59% rise in net incometo $26.5 million, or 75 cents a share. The company said its cashposition remained strong at year-end, at $13.1 million, promptingit to announce a new $50 million stock repurchaseprogram.