SAN ANTONIO, May 15, 2013 (GLOBE NEWSWIRE) -- Payment Data Systems, Inc. (OTCBB:PYDS) an integrated electronic payments solutions provider, today announced financial results for the quarter ended March 31, 2013.
- Credit card and debit card processing transactions were the highest the Company has ever experienced in any previous quarter in our history and represented an 18% growth in dollars processed over the same period in 2012.
- Prepaid card sales were also up significantly as compared to the volumes in the same period in the prior year and represented an increase of 165% in sales over the same period in 2012.
- Cash and cash equivalents grew to $2,401,047 in the first quarter of 2013 from $2,179,657 the first quarter of 2012.
- Total current assets grew to 2,630,415 in the first quarter of 2013 from 2,381,561 in the first quarter of 2012.
- Total current liabilities improved to $1,895,012 for the first quarter of 2013 as compared to $2,428,271 in the first quarter of 2012.
- Working capital improved to $735,402 in the first quarter of 2013 as compared to negative working capital of $46,709 in the first quarter of 2012.
- Total transaction dollar volume processed exceeded sixty million dollars.For complete financial results, please view our 10Q which was filed with the SEC today.