CHANTILLY, Va. – Online Resources Corp. reported a $200,000 loss for its fiscal third quarter, down from a $1.7 million loss for the third quarter last year, as revenue grew 8% to $41.3 million for the quarter.
“Revenue and earnings were better than expected in the third quarter,” said Joseph Cowan, president of Online Resources. “During the quarter we benefited from higher professional services revenue in our banking business that is non-recurring in nature. Excluding the higher professional services revenue, revenue and earnings would still have been at the high end of guidance.”
For the first three quarters of the year the company reported a 6% increase in revenue to $123 million, and a loss of $973,000, down from a loss of $11.2 million for the first three quarters last year.