NASHVILLE -- Envoy Corp., which provides transaction processing to the financial services and health care industries, reported significantly higher earnings for the second quarter.
Net income increased 59% to $1.6 million, or 14 cents per share, compared with last year. Total revenues for the second quarter increased 27%, to $13.1 million. The earnings follow a similar showing in the first quarter.
Fred C. Goad Jr., president and chief executive, attributed the net income increase to improved margins and significant growth in the number of transactions processed.
Total transactions processed for the second quarter increased 47%, to 155.4 million from 105.8 million in the second quarter last year.
Envoy shares are traded on the Nasdaq stock market.