This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Payment Data Systems Reports 2012 Fiscal Year Results

SAN ANTONIO, Texas, April 1, 2013 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCQB:PYDS), an integrated electronic payments solutions provider, today announced the financial results for the year ended December 31, 2012.

Revenues for the fiscal year ended December 31, 2012 increased 53% to $7,345974 from $4,813,257 for the year ended December 31, 2011. The increase of $2,532,717 was primarily a result of higher transaction volumes in credit card and debit card business lines. Gross profit for the year ended December 31, 2012 increased 84% to $3,159,011 from $1,719,366 for the year ended December 31, 2011.

Operating income for the year ended December 31, 2012 increased to $1,390,988 from an operating gain of $372,999 for the year ended December 31, 2011. Excluding the effect of non-cash expenses associated with stock-based compensation of $251,830 and depreciation expenses of $6,860, operating income for the year ended December 31, 2012 was $1,649,678.

Net income for the year ended December 31, 2012 was $1,275,218 as compared to net income $351,848 for the year ended December 31, 2011.

While other selling, general and administrative expenses increased for the year ended December 31, 2012 to $1,509,333 from $993,877 for the year ended December 31, 2011, the 52% increase was very near the 53% growth in revenue that occurred for the year ending December 31, 2012.

Michael Long, Chief Executive Officer of Payment Data Systems, said, "We were certainly pleased with the year end results and we look forward to a strong 2013. We will continue to see cycles in our business, such as our typical seasonal influences. However as we look at pipelines and projections we are very confident in the coming year as we continue to bring new products, services, and innovations to the market."

Please review our annual report on Form 10K which will be filed today with the Securities and Exchange Commission for complete financials of the Company.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,899.01 -16.06 -0.09%
S&P 500 1,962.27 -2.41 -0.12%
NASDAQ 4,402.8230 +6.6190 0.15%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs