NJ-based Heartland Payment Systems posted third quarter revenues of $228 million, up 39% compared from one-year ago. Net revenue, which is total revenue less interchange and dues and assessments, was $50.9 million in the third quarter, an increase of 35.4% from 3Q/04. This is the first quarter that Heartland has been public. Bank card processing volume for the third quarter increased 36.1% to $9.3 billion. Record processing volumes reflect a continued rapid expansion of the Company’s active merchants, to 106,500 at September 30th, a 25.5% increase from September 30, 2004. The Company also installed 11,670 merchants in the quarter, a 12.1% increase from the third quarter of 2004. Processing and servicing expense declined to 9.9% of revenues during the quarter as over 67% of new merchants installed and 55% of total transactions were on its internally developed front-end processing system HPS Exchange. For complete details on Heartland’s latest performance, visit CardData ([www.carddata.com]).