Payment Data Systems CEO Projects Profitability For Third Quarter Of 2011
Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider, is providing guidance for Q3 2011.
Michael Long, Chief Executive Officer of Payment Data Systems, said, “As our company matures I believe it is time for us to begin to provide more guidance related to future quarters.
"In Quarter 3 of 2011, I am pleased to announce that we anticipate reaching the point of generating positive earnings. For the third quarter of 2011 we are anticipating sales of over one million dollars along with positive earnings that will be derived from operations. Several of our customers added in recent quarters have begun to process their anticipated larger volumes of payment transactions. Many of these new customers were implemented in late June with more added in early July.
"We anticipate that July 2011 will historically be our best month in terms of net income, transaction volume processed and dollars processed. This momentum is being created through recurring revenue and we expect to build upon it the remainder of the year. Clearly, this is a very exciting time in the history of our company.”Q2 2011 earnings are anticipated being released on or about August 12, 2011. About Payment Data Systems, Inc. Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments. For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at email@example.com. Website: http://www.paymentdata.com Find us on Facebook® 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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