CHANTILLY, Va. – Online Resources Corp., a provider of Internet services for credit unions and banks, said a 30% surge in fourth quarter revenue helped it break into the black for the period to the tune of $600,000, or two cents a share.
In comparison, the company had a loss of $2.7 million, or 11 cents a share, for the fourth quarter in 2006.
Fourth quarter revenues were $38.1 million, up from $29.4 million for the fourth quarter last year. Annual revenue also was up significantly, based on the company’s acquisition last year of Princeton eCom, by 47%, to $135.1 million.
Expenses, led by the Princeton eCom acquisition, rose by more than $15 million, or 36%, for the year.
As a result, the company reported a loss of $8.9 million, or 33 cents a share, for the year, up from a loss of $4 million, or 16 cents a share, for 2006.
