Earnings Rise At eFunds

February 24, 2005, 1:00 a.m. EST 1 Min Read

SCOTTSDALE, Ariz. - (02/24/05) -- Funds processor eFunds Corp. saidnet income for its fourth quarter rose 12% to $11.3 million, or 22cents a share, despite a drop-off in revenues. Fourth quarterrevenues fell 4% to $130.5 million, mainly due to the sale of thecompany's ATM portfolio, one of the largest in the country. For thefull year, net income surged 41% to $40.8 million, or 83 cents ashare, while revenues rose 4% to $52.1 million. eFunds processedand switches transactions for the credit union-owned CO-OPNetwork.

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