The Chantilly, Va., Internet banking outsourcer Online Resources Corp. says it expects to report a first-quarter loss of 9 to 12 cents a share, but its results should improve later next year.
The vendor also said last week that it expects to report revenue of $38.2 million to $40.2 million for the quarter, along with 3 to 5 cents a share of "core net income," its preferred measurement of results.
In the first quarter of this year, Online Resources lost 9 cents a share on $39.2 million of revenue. It reported core net income of 5 cents a share.
For all of next year, it expects to report a net loss of 11 to 23 cents a share, revenue of $160 million to $170 million, and core net income of 31 to 39 cents a share.
"The weak economy and low interest rates will slow the pace of our growth, especially in the first quarter, when our expenses are seasonally high," Matthew P. Lawlor, Online Resources's chairman and chief executive officer, said in a press release. "However, we believe that our banking and biller clients will continue to expand their use of our cost-effective online financial and electronic payment services."
