3Pea International, a payment solutions provider focused on prepaid debit card program management and processing services, today reported record financial results for the year ended December 31, 2012.
Revenues for the full year increased 103 percent to a record $6.7 million, double the $3.3 million in revenues reported for the comparable 12 months of 2011.
Operating Income grew to a record $574,851, up 106 percent compared to $278,886 reported in the year prior.
Net income for 2012 increased 743 percent to $1.8 million, or $0.05 per share, compared to net income of $215,186 for 2011.
The company attributes the increases, in part, to the launch of several new card programs, and said that it anticipates continued growth as utilizes its latest processing platform as it rolls-out additional debit card programs, diversifies its product line and increases its service offerings.
“We are pleased with our performance in 2012, as it was a record year for 3Pea. We generated strong annual results, as we delivered triple digit revenue, operating income and net income growth, and had significant balance sheet improvement,” Arthur De Joya, CFO of 3Pea stated in the press release. “3Pea has invested in the technology and infrastructure necessary to fuel our recent growth. We believe we are in the process of building the foundation needed to achieve the next stage of corporate growth.”
For more information, visit www.3pea.com
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