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Payment Data Systems Reports Second Quarter Results; Revenue
Up 391 Percent from Prior Year Quarter |
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San Antonio, TX
Aug 01, 2005 Payment Data Systems, Inc. (OTC BB:
PYDS) today announced financial results for the quarter
ended June 30, 2005. Revenues increased 391% to $314,926
for the second quarter of 2005 from $64,202 for the second
quarter of 2004. Net loss for the quarter ended June 30,
2005 was $496,531, or $0.02 per share, compared to net
loss of $302,949, or $0.01 per share, for the second
quarter of 2004. Revenues increased 367% to $557,888 for
the six months ended June 30, 2005 from $119,399 for the
same period of 2004. Net loss for the six months ended
June 30, 2005 was $952,511, or $0.04 per share, compared
to net loss of $703,665, or $0.03 per share, for the same
period 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 Payment Data
Systems has delivered another quarter of strong results
driven by our technological innovations and increased
acceptance of our highly effective and quick to implement
product solutions. Our credit card transaction volume was
up 26% for the second quarter of 2005 and the related
dollar volume was up 29% from the first quarter of 2005.
As a consequence, we saw revenues for the second quarter
of 2005 grow 30% from $242,962 for the preceding first
quarter with the growth in credit card processing leading
the increase.”
Long added, “Revenue generated by our merchant
customers was approximately 85% of our total revenues in
the second quarter of 2005, and we expect the trend of
increasing card-based revenues to continue as we build a
pathway to profitability.” |
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.
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Payment Data Systems, Inc.
Michael Long
Chairman and 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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