Chantilly, Va.-based Online Resources Corp. Wednesday reported a first quarter loss of $200,000, down from a $1.6 million loss for the same quarter last year.
First quarter revenues were down almost 2% to $38.6 million.
“We are pleased with the quarter and the possibility of healthier transaction growth going forward,” John Dorman, former CEO of Digital Insight who recently was appointed interim chief of Online Resources, said in a statement. “However, because of the residual impact of client losses, producing year-over-year revenue growth will be a challenge in the near term. Further, our earnings will be affected as we incur restructuring costs and reallocate resources to sales, marketing, strategic partnerships and client relationship management.”
The electronic biller also last week announced it was granted a patent by the U.S. Patent and Trademark Office for a broad range of biller service provider bill payment transactions (
