Online Resources Corp.'s second-quarter revenue grew 5.4% year-over-year, to $38.3 million, from higher sales of e-commerce services.
The Chantilly, Va., bank technology vendor said Thursday after market close that its net loss attributable to stockholders widened 79.2%, to $2.3 million, or 7 cents per diluted share, from $1.3 million, or 4 cents per diluted share.
Its adjusted net income excluding certain compensation, tax, restructuring and other costs of 3 cents per diluted share beat analysts' averaged estimate of a loss of 2 cents per share.
"Our positive performance was the result of higher than anticipated e-commerce payment transactions, where we benefited from stronger than expected same-store transaction growth," Joseph Cowan, the president and chief executive of Online Resources, said in a press release.
Online Resources in March announced a plan to consolidate some of its software platforms to reduce redundancy and cut costs. The company has made progress "on its strategic growth plan" as well as "hired additional staff in our India development center and redefined both our product roadmaps and plans to reposition the company in our markets," Cowan said.
