Digital Insight Reports Surge InEarnings
CALABASAS, Calif. - (04/27/05) -- Digital Insight Corp. said Tuesdaynet income for its first quarter soared 38% to $5.7 million, or 16cents a share, driven by a strong 18% rise in Internet bankingrevenue. Total revenues rose 13% for the first quarter, to $51.7million, compared to the same period last year. Business bankingrevenues climbed 8%, while lending revenues slumped 20%, due mainlyto client attrition. The company remained in a strong cashposition, with no debt and announced another $25 million stockrepurchase plan. DI completed a previous $25 million stockrepurchase in the fourth quarter last year, buying back 1.3 millionshares at an average price of $16.64 each.