RDM Corporation specialized software and hardware products for electronic payment processing reported its financial results for the year and three month period ended September 30, 2011. For this, total revenue was $4.8 million in the fourth quarter of fiscal 2011, compared to $5.1 million in the fourth quarter of 2010 and $4.6 million in the prior quarter. The Company generated $987,000 in cash from operations during the quarter. Payment Processing Services revenue was $2.6 million up 4% over Q3 2011. Meanwhile, gross profit was $2.2 million or 46% of revenues in the fourth quarter of 2011, compared to $1.9 million or 37% of revenues in the fourth quarter of 2010 and net income, excluding special charges was $298,000.
RDM Corporation specialized software and hardware products for electronic payment processing announced its Notice of Intention to make a Normal Course Issuer Bid has been accepted by the Toronto Stock Exchange. Pursuant to the Bid, RDM may purchase up to 1,059,736 common shares, representing 5 per cent of the issued and outstanding common shares as of July 31, 2011. The purchases may commence on August 16, 2011 and will terminate on August 15, 2012, or on such earlier date that RDM completes its permitted purchases pursuant to the Notice or provides notice of termination of the Bid. All purchases will be made through the facilities of the TSX at prevailing market prices in accordance with regulatory requirements. Subject to any block purchases made in accordance with TSX rules, RDM will be subject to a daily repurchase restriction of 2,738 common shares. RDM will cancel any common shares purchased pursuant to the normal course issuer bid.
Financial Transmission Network remittance processing solutions (FTNI) has completed its certification to support the RDM “Connect” auto feed multi-feature check scanner with its “ETran” platform. Integrating RDM “Connect’s” multi-functional scanner to process checks, swipe credit and debit cards and capture ID cards facilitates the merchant’s desire to simplify payment acceptance. The “ETran” receivables platform lets merchants process Remote Deposit Capture, ACH and credit/debit cards, all from a single platform. FTNI’s PCI compliant solution satisfies the growing demand for payment diversity by accommodating mail-in, walk-in, call-in and web payments, while also providing posting files to allow the merchant to clear and post payments in a single pass.
Financial Transmission Network (FTNI) has completed its certification to support the RDM Corporation’s “RDM Connect” auto feed multi-feature check scanner with its “ETran” platform. Integrating “RDM Connect’s” multi-functional scanner to process checks, swipe credit and debit cards and capture ID cards facilitates the merchant’s desire to simplify payment acceptance. The “RDM Connect” scanner resonates well with FTNI’s ETran application, a receivables platform letting merchants process Remote Deposit Capture, ACH and credit/debit cards, all from a single platform which also satisfies the growing demand for payment diversity by accommodating mail-in, walk-in, call-in and web payments.
Randy Fowlie as President and CEO for RDM Corporation software and hardware products for electronic payment processing. Randy Fowlie joined the Board of RDM Corporation in September, 2010 and was then appointed interim CEO in early December. Previously, Mr. Fowlie operated a consulting practice since 2006 and was Vice President and General Manager, Digital Media, of Harris Corporation. From 1998 to 2005 he served as Chief Operating Officer and Chief Financial Officer of Inscriber Technology Corporation, a software company acquired by Leitch in 2005. Previously Mr. Fowlie was a partner with KPMG LLP, Chartered Accountants. Randy holds a a B.B.A. (Honours) from Wilfrid Laurier University and is a Chartered Accountant.
RDM Corporation software and hardware products for electronic payment processing has expanded its “Simply Deposit Mobile” product and integrated it with its RDC platform. Currently available for the iPhone, and shortly be available on BlackBerry, the “Simply Deposit Mobile” is the RDC solution for businesses with a mobile workforce collecting payments in the field and extends RDC to the actual point of initial check receipt. It combines RDM’s patent-pending mobile image processing technology with RDM’s patented remote deposit products to provide a complete RDC solution for both small and large corporate users.
Randy Fowlie has been appointed to the RDM Corporation Board of Directors. Specializing in software and hardware products for electronic payment processing, RDM chose Fowlie for the position thanks to his extensive experience. He operated a consulting practice since 2006 after having previously held the position of Vice President and General Manager, Digital Media, of Harris Corporation software and hardware company. From 1998 to 2005 he served as Chief Operating Officer and Chief Financial Officer of Inscriber Technology Corporation, a software company acquired by Leitch in 2005. Previously Mr. Fowlie was a partner with KPMG LLP, Chartered Accountants, where he worked from 1984 to 1998.
RDM Corporation specialized software and hardware products for electronic payment processing, announced that it has introduced new FFIEC compliance tools in its ITMS(R) suite of RDC software products. Responding to the new FFIEC Guidance regarding RDC, RDM enhanced existing capabilities and created new functionality to assist customers with compliance. This new offering provides financial institutions with a set of tools specifically designed to help them comply with the FFIEC guidelines with respect to RDC. These improvements to security and risk mitigation include enhanced security authentication, a comprehensive reporting suite, an easy to use limits and monitoring module as well as check endorsement capability.
E-check processor Global eTelecom has certified RDM Corporation’s “RDM
SYNERGY II All-In-One” payment terminal for GETI’s “Check 21+” solutions. The “RDM SYNERGY II”
certification includes the ability to process checks
with guaranteed funding as well. Already capable of processing ACH check
transactions, this added capacity makes the RDM SYNERGY II a flexible
and robust payment solution choice. RDM’s all-in-one
POS hardware is fully supported for all check processing
standards, making it a valued option for both resellers and merchants.
RDM Corporation electronic commerce and payment processing posted
payment processing revenues of $2.5 million for its fiscal Q3/09 ended
June 30, 2009, compared to the year-ago figure of $1.7 million. The RDM
transaction volumes averaged 3.8 million items per week during the
quarter, compared to 2.8 million items per week during the year ago
period and 3.6 million items per week during its fiscal Q2/09. Payment
Processing Services segment revenues increased by $0.8 million by 48%
from the year ago period to $2.5 million while the Electronic Payments
Solutions segment and the Quality Assurance segment, which represented a
combined 8% of total revenues in the third quarter, generated revenues
of $180,000 and $322,000, respectively, compared to $554,000 and
$331,000, respectively, in the year ago period. Additional data show the
organization’s end user locations grew from 17,000 to 17,800 during the
quarter; added one additional bank distributor; gross profit was $2.5
million or 42% of revenues, compared to $1.8 million and 34% during the
year ago period, respectively; and net earnings of $175,000 compared to
a net loss of $298,000 during the year ago period.
RDM software and hardware products for electronic payment processing has
announced ACH Payment Solutions (APS) is offering its Remote Deposit
Capture (RDC) capabilities, reselling the RDM Image and Transaction
Management System (ITMS) and “Simply Deposit” hardware through its own
national distribution channel. The RDM RDC products are designed to save
end users the trouble of physically depositing checks at the bank and
provide faster funds availability. ITMS processing solution targets
environments with many remote or distributed capture locations with
large central processing centers while “Simply Deposit” is designed for
ease of use and minimal end user training requirements. ACH Payment
Solutions (APS) are designed for smaller businesses and regional
merchants with 100 locations or more
while the RDM Corporation is headquartered in Waterloo, Ontario and
specializes in electronic payment processing.
Mobile capture provider Mitek Systems and e-payment software developer
RDM will integrate Mitek’s “ImageNet
Mobile Deposit” into its Image & Transaction Management System
suite of Remote Deposit Capture products.” ImageNet Mobile Deposit”
allows checks to be deposited from an end user’s
camera-equipped mobile phone, giving financial institutions the ability
to provide their account holders an extra level of convenience and
quicker availability of funds. The combined offerings will extend
merchant capture to many small to medium sized businesses that process
less than 25 checks a day and have been slow to adopt desktop RDC
because of high entry costs which include specialized scanning
equipment, software and maintenance costs. The downloadable application
is initially available
for the iPhone and latest Blackberry handsets.