Intelidata Technologies Corp. is starting to benefit from having unplugged its telecommunications business.
Fourth-quarter revenues were up 8% from a year earlier, at $2.6 million, and losses narrowed, to $981,000 from $3.1 million.
After an unprofitable tumble into caller identification technology, the Herndon, Va., company has reinvented itself as a pure Internet banking software developer.
"There is nothing hotter than Internet banking," said Chet White, an analyst at L.H. Friend, Weinress, Frankson & Presson Inc. of Irvine, Calif. "Intelidata is in a great position to sign some big banks to their program."
Alfred S. Dominick, the technology company's president and chief executive officer, said it "will be ruthlessly focused in the bill payment and presentment areas."
The price of Intelidata shares reached its lowest point on Nov. 17-62.5 cents-but has risen in recent weeks thanks to sales of Interpose, the company's home banking and bill payment system. The closing price Friday was $1.625, up 8% for the week.
Intelidata is installing the latest version of its software at five banks, and sold earlier versions to 20 banks, including KeyCorp and First Union Corp. It claims to have 22 deals in the pipeline.
The software includes a bill payment warehouse, which lets banks process on-us items and route other electronic payments through the most cost- efficient system.
"As Internet banking and bill presentment ramp up, the in-house solution has more and more merit," said Mr. White, the analyst.