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CyberSource Q2 net income drops

27 July 2006  |  1794 views  |  0 Source: CyberSource

CyberSource Corporation (NASDAQ:CYBS), a leading provider of electronic payment and risk management solutions, today announced financial results for its second quarter ended June 30, 2006.

  • Revenue in the second quarter increased to $16.4 million, a 38% increase over the same period last year.
  • Net income for the second quarter was $0.8 million on a GAAP basis as compared to $1.4 million for the second quarter of the prior year. Non-GAAP net income which excludes stock based compensation expense, the non-cash portion of the tax provision, depreciation and amortization expense, and other non-recurring charges and income was $2.6 million as compared to $1.6 million for the second quarter of the prior year, an increase of 61%. A reconciliation of the GAAP to non-GAAP results is attached with the financial statements
  • GAAP earnings per share was $0.02 compared to $0.04 in the same period last year. Non-GAAP earnings per share was $0.07 compared to $0.04 in the same period last year
  • Transaction volumes increased to a record 198.7 million during the quarter, a 35% increase over the 147.2 million transactions processed in the same period last year
  • CyberSource added approximately 1,500 new customers in the second quarter

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