Online Resources Corporation (NASDAQ: ORCC), a leading provider of financial technology services, today announced the opening of its new Metro Atlanta office, located at 3237 Satellite Blvd., Building 300, suite 210 in Duluth, Ga. With the opening, ORCC gains the capacity to recruit nearly 20 local payments professionals and holds the option to expand even more as the company continues to grow. “Since the beginning of the year, we’ve continued to thrive while undergoing some very complex infrastructure upgrades, requiring an investment in talent to continue to execute on our corporate growth strategy,” said Joseph Cowan, president of ORCC. “We look forward to the opportunities this new office will provide in tapping into the large pool of payments industry professionals in the area.” In addition, ORCC recently announced its one-year anniversary of its Bangalore, India office and the addition of 80 new employees there, with the goal of expanding to 125 employees by year-end. Both new offices will increase the capabilities and delivery options of its banking and bill pay solutions, further solidifying the company as a technology leader in the digital financial space within the U.S. and global markets. About Online Resources Corporation Online Resources Corporation (NASDAQ: ORCC) powers financial interactions between millions of consumers and the company’s financial institution and biller clients. Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, ORCC is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com. This news release contains forward-looking statements based on Online Resources Corporation management's current expectations and beliefs and a number of assumptions concerning future events made with information that is currently available. The words "will," "would," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan," and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are not a guarantee of any results or performance and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual performance or results to differ materially and adversely from any results or performance expressed or implied by such forward-looking statements. Certain factors that might cause such a difference include, but are not limited to: a history of losses and anticipation of future losses; potential fluctuations in operating results; dependence on the marketing efforts of third parties; potential loss of one or more material clients; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand certain services and products in the event of a substantial increase in demand for such services and products; competitive pressures; ability or inability to attract and retain skilled personnel; reliance on patents and other intellectual property; potential change in the rate of user adoption of certain products and services; exposure to consolidation in the financial services industry; and government regulatory developments. For a more detailed description of the factors that could cause such a difference, please refer to our latest filings with the Securities and Exchange Commission, including (but not limited to) the information provided under the heading "Risk Factors" in our latest Annual Report on Form 10-K. We assume no obligation to update or supplement any forward-looking statements.Online Resources, ORCC and the Online Resources logo are trademarks of Online Resources Corp. Other company and product names and logos used in this release are the trademarks of their respective owners.
Shares of Online Resources Corporation (Nasdaq:ORCC) were gapping down Wednesday morning with an open price 30.4% lower than Tuesday's closing price. The stock closed at $6.05 yesterday and opened today's trading at $4.21.