CHANTILLY, Va. – Online Resources Corp. said it fell into the red for the third quarter to the tune of $1.5 million, or five cents a share, compared to a profit of $1.1 million, or four cents a share, for the same period last year.
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Revenue growth was strong, 11%, for the third quarter, and 18% for the first three quarters of the year.
That helped the company trim its three quarters’ losses to $8.2 million, from $9.5 million in loss for the first nine months last year.
Mathew Lawlor, president and CEO of Online Resources, said the company’s e-commerce business reported a 41% increase in the number of transactions and the company also signed two major credit card issuers to its web-based collections service.
