Today, MyECheck reported its Q3 2008 financial results for the period of July 1, 2008 through September 30, 2008. Revenues for this quarter totaled $156,174 compared to $110,805 for Q2 2008, which is an increase of 41%. Revenues for the nine months ended September 30, 2008 skyrocketed to $325,892 from $4,771 for the same period in 2007.
According to the press release, the growth in transaction processing volume and revenue is accelerating as more processors and merchants subscribe to the MyECheck system. Management anticipates that this trend will continue and is preparing by expanding processing capacity and speed.
CEO of MyECheck, Ed Starrs, stated, “We reached a major milestone this quarter by processing almost $30 million dollars for the three month period ending September 30th, 2008, as compared to $22 million for the first two quarters of 2008. Our software is proving itself as we continue to increase output for our clients and their customers.”
“We added a number of new clients during the Third Quarter, and are now starting to capitalize on results as they go live on our software. We expect to see more positive results from existing clients during the next quarter, and our sales team continues to build our MyECheck brand across a number of industries and businesses,” Mr. Starrs continued.
About QualityStocks:
QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.
Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
The Quality Stocks Daily Stock Report http://video.qualitystocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment