CHANTILLY, Va. – Online Resources Corp. yesterday reported it trimmed its first quarter losses to $3.6 million, or 12 cents a share.
That’s down from a loss of $9.5 million, or 36 cents a share, for the first quarter last year, after the company acquired online bill payment provider Princeton eCom.
First quarter revenues were up a strong $27%, to $39.2 million, reflecting the new business brought in by Princeton eCom.
“The benefits of our uniquely integrated payments network, which links financial institutions with billers, is beginning to resonate across our markets,” CEO Mathew Lawlor said in a prepared statement. “New client sales are strong and we continue to make progress in launching and cross-selling new products. Our divisions are performing well, particularly with eCommerce transaction growth.”
