Online Resources Reports Decline InEarnings

April 25, 2006, 1:00 a.m. EDT 1 Min Read

CHANTILLY, Va. - (04/25/06) Internet services providerOnline Resources Corp. reported a 66% drop in net income for itsfirst quarter, to $800,000, or three cents a share, compared to$2.2 million, or 10 cents a share, for the same period last year,despite a rise in revenues. Revenues for the first quarter were up11% to $16.7 million. The decline in earnings was due to thedeparture of three large clients who were acquired and left thecompanys platform, as well as the introduction of equitycompensation and tax expensing, which were not included in thefirst quarter in 2005, the company said.

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