InteliData Swings To Loss

February 22, 2002, 1:00 a.m. EST 1 Min Read

- RESTON, Va. (02/22/02) - InteliData Technologies,Inc., a provider of e-billing and e-payment services for creditunions, said it halved its fourth-quarter losses to $3.7 million,or eight cents a share, but growing operating losses pushed thecompany into the red for the year to the tune of $30 million, or 65cents a share, compared to a profit of $23.7 million, or 58 cents ashare, for fiscal 2000. Last year's profit was based on a $48.6million sale of investments. Operating losses for InteliData rose20% last year to $30.3 million, from $25.3 million. The companysaid revenues rose to $5.5 million for the fourth quarter of 2001from just $602,000 in the fourth quarter of 2000, while fiscal-yearrevenues more than tripled to $18.3 million, from $5.1 million in2000. Separately, InteliData said Mid-Atlantic Corporate FCUpurchased the company's Interpose Web Banking Bill Payment productto enhance its current InteliData e-payment product.

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