Online Resources Q2 losses widen

Source: Online Resources

Online Resources Corporation (Nasdaq: ORCC), a leading provider of web-based financial services, today reported financial and operating results for the three months ended June 30, 2008.

  • Revenue was $37.2 million, up 16 percent from $31.9 million in second quarter 2007.
  • Ebitda, a non-GAAP measure adjusted for stock compensation expense and preferred stock accretion, was $7.4 million compared to $7.8 million in the prior year.
  • Net loss available to common stockholders was $3.2 million, or $0.11 loss per diluted share. This result compares to a net loss of $1.2 million, or $0.04 per diluted share, in 2007.
  • Core net income, a non-GAAP measure, was $1.7 million versus $1.9 million in 2007. Core net income per share was $0.06 per share, down from $0.07 per share in the prior year.

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