Payment Data Systems Reports First Quarter
Results; Revenue Up 340 Percent from Prior
Year Quarter
San Antonio, TX
May 17, 2005 Payment Data Systems,
Inc. (OTC BB: PYDS) today announced
financial results for the quarter ended
March 31, 2005. Revenues increased 340% to
$242,962 for the first quarter of 2005
from $55,197 for the first quarter of
2004. Net loss for the quarter ended March
31, 2005 was $455,980, or $0.02 per share,
compared to net loss of $400,716, or $0.02
per share, for the comparable quarter of
2004.
Commenting on the increase in revenues,
Michael R. Long, Chairman and Chief
Executive Officer of Payment Data Systems,
said, "We are pleased to report that the
first quarter of 2005 was up 142% for
transactions and up 96% in dollar volume
above the fourth quarter of 2004. As a
consequence, we saw revenues for the first
quarter of 2005 grow 44% from $168,966 in
revenues for the preceding fourth quarter
with the growth in card processing leading
the increase."
Long added, "Revenue generated by our
merchant customers was approximately 80%
of our total revenues in the first quarter
of 2005, and we expect the trend of
increasing card-based revenues to
continue."
About Payment Data Systems, Inc.
Payment Data Systems, Inc., is an Integrated Payments
Solution Provider delivering comprehensive,
cost-effective solutions to billers and retailers for
the processing and management of electronic payments via
the Internet, point of sale, or payments taken by
Customer Service Representatives or an Interactive Voice
Response (IVR). Additional products available from PDS
include services and products that can be implemented
more quickly and less expensively than the alternative
of adding multiple payments companies as these solutions
offer a full range of payment processing capabilities.
These service offerings include: one time and recurring
ACH debits and credits, electronic lockbox and returned
check services, Web pay acceptance of credit cards and
checks, telephone pay to Customer Service
Representatives for acceptance of credit cards and
checks, Interactive Voice Response systems which
completely automate the payment receiving process, and
data warehousing that enable the storage and retrieval
of all payment history from one location. Payment Data
is the owner of the electronic bill payment portal,
http://www.billx.com . billx.com has the ability to
transmit electronic payments to thousands of national
billers. For additional information, visit
www.paymentdata.com. Contact: Michael Long, Investor
Relations, Payment Data Systems, Inc. 210-249-4040.
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Payment Data Systems, Inc.
Michael Long
CEO
phone: 210-249-4040
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FORWARD-LOOKING STATEMENTS DISCLAIMER Except for the historical
information contained herein, the matters discussed in this release
include certain forward-looking statements, which are intended to be
covered by safe harbors. Those statements include, but may not be
limited to, all statements regarding our and management's intent,
belief and expectations, such as statements concerning our future and
our operating and growth strategy. Investors are cautioned that all
forward-looking statements involve risks and uncertainties including,
without limitation, the factors detailed from time to time in our
filings with the Securities and Exchange Commission. One or more of
these factors have affected, and in the future could affect, our
businesses and financial results in the future and could cause actual
results to differ materially from plans and projections. We believe
that the assumptions underlying the forward-looking statements
included in this release will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking statements
included herein, the inclusion of such information should not be
regarded as a representation by us or any other person that our
objectives and plans will be achieved. All forward-looking statements
made in this release are based on information presently available to
our management. We assume no obligation to update any forward-looking
statements, except as required by law.
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