Digital Insight Reports Near Tripling Of Earnings
Internet services provider Digital Insight Corp. said it nearly tripled its third quarter earnings to $4.6 million, or 14 cents a share, from $1.7 million, or five cents a share, for the same period last year, on the strength of a 16% rise in revenues to $39.4 million. As a result, DI reported a strong $11.1 million, or 33 cents a share profit for the first three quarters, compared to a $33.3 million loss, or 14 cents a share, for the first nine months last year. Revenues for the first three quarters were up 17% to $112.2 million. Separately, DI said it has agreed to acquire Magnet Communications, Inc., a provider of online cash management and business banking solutions.