Online Resources Corp. has provided guidance for 2007 that includes a boost in revenue from the acquisition of a rival online bill-payment vendor this year and the loss of two major clients.
The Chantilly, Va., company said Thursday that it expects first-quarter revenue to grow 84%, to a range of $30 million to $31.5 million, from this year's first quarter. It expects a net loss of 33 to 35 cents a share; for the first quarter of 2006 it posted a per-share profit of 3 cents.
For all of 2007, Online Resources said it expects revenue to increase by 45%, to a range of $131 million to $137 million, and a net per-share loss of 30 to 37 cents. For 2006 it expects to post a loss of 11 to 13 cents a share.
Online Resources bought the online bill-payment provider Princeton eCom Corp. in July, and has nearly completed its integration of the New Jersey company, Matthew P. Lawlor, its chairman and chief executive, said in a press release.
"At the same time, our 2007 outlook amply absorbs the loss of two large clients, one of whom was acquired and the other whose departure had been considered and provided for in the Princeton acquisition terms," he said.
The forecast also includes a writeoff of about $5.5 million in fees and expenses for the planned refinancing of Online Resources' debt in the first quarter.
