LML Reports Profitable First Quarter Results For Fiscal 2013
VANCOUVER, British Columbia, Aug. 13, 2012 (GLOBE NEWSWIRE) -- LML PAYMENT SYSTEMS INC. ("LML") (Nasdaq:LMLP), a leading payments technology provider of financial payment processing solutions for e-commerce and traditional businesses, reports results for the first quarter ended June 30, 2012.
Revenue for the three months ended June 30, 2012 was $5.6 million compared to $5.9 million in revenue for the three months ended June 30, 2011. Gross profit was $2.3 million or 42% compared to $2.6 million or 44% last year. Income before taxes was $834,000 compared to $1.1 million last year. Net income for the quarter was $447,000, or $0.02 per share compared to $687,000 or $0.02 per share last year. Net cash flow from operating activities for the three months was approximately $947,000 compared to cash used in operating activities of $(4.3 million) last year, an improvement of $5.3 million.
- Transaction Payment Processing (TPP) segment revenue increase of 26%
- Added over 900 customers; total customer base increases to over 14,000
- New products include partnering with MasterCard to provide support for MasterCard's PayPass wallet service, allowing online merchants to provide consumers with a frictionless check-out experience
- Launched a Beanstream mobile app for iPhone
- All three business segments (Transaction Payment Processing (TPP), Check Processing (CP) and Intellectual Property Licensing (IPL)) achieve profitability
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts