Online Resources Reports Second Quarter Loss

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CHANTILLY, Va. – Online Resources Corp. said yesterday second quarter losses were $1.3 million, down from $1.7 million a year ago, as revenues slid almost 4% to $36.4 million.

For the first six months of the year revenues were down almost 3% to $74.9 million, while losses were $1.5 million, compared to $3.3 million in losses for the first half of last year.

The first half of the year was marked by turmoil, with the departure of Matthew Lawlor, founder and CEO in December, and the recent appoint of Joseph Cowan and his successor.

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