eFunds Q2 Revenues Up 10%; Raises Projections

AZ-based eFunds reports second quarter net income of $14.1 million. Second quarter net revenue increased 10% to $116.3 million, excluding the former ATM business, compared to the second quarter of 2004. Overall, revenues declined 17% from the 2Q/04. eFunds sold its ATM deployment business in November 2004. During the second quarter, new customer wins included Societe Generale and eFunds acquired India Switch Company and National Check Protection Services and signed the agreement to purchase WildCard Systems. The Company has raised its 2005 net income estimate from a range of 15% to 19% over the net income of $40.8 million reported in 2004 to 25% to 35% over its 2004 net income due to its anticipated recognition of a $4 to $6 million tax benefit in the third quarter. For complete details on eFunds’ second quarter performance, visit CardData ([www.carddata.com][1]).

eFunds Revenues Historical
2Q/03: $133.0 million
3Q/03: $133.1 million
4Q/03: $135.4 million
1Q/04: $140.9 million
2Q/04: $140.7 million
3Q/04: $140.1 million
4Q/04: $130.5 million
1Q/05: $114.2 million
2Q/05: $116.3 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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Web Transaction Monitoring Goes to Next Gen

Keynote Systems released a new version of its service for measuring the speed and reliability of Web-based transactions. “Transaction Perspective 6.0” enables companies to measure, benchmark, trend and analyze the performance of their most critical applications and multi-step business transactions from the end user. Other significant enhancements to “Transaction Perspective” include: component level alerting targeted to specific issues allows customers to set alerts on specific network related times, such as DNS lookup, first byte and connection time with a server; baseline threshold alerts for performance trending as part of the alerting strategy, provides more intelligent alerting based on a rolling average for each hour of the week instead of static values that results in fewer false alarms; and enhancements to the “MyKeynote UI” including customization for audience type, configurable schedules and content and search archives for historical reports up to two years. “Transaction Perspective 6.0” is available immediately with prices starting at $1,295 per month (5 pages/10 cities).

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US Dataworks’ Revenue Rises 22% in Q2

Houston-based US Dataworks posted revenues for the second calendar quarter of $1.1 million, compared to revenues of $903,132 for the same period a year ago. Net loss for the quarter was $968,800, compared to a net loss of $1.4 million, for the corresponding period in the prior year. The Company recently announced it exceeded the one billion transaction threshold using its “Clearingworks” payment platform. US Dataworks expects revenues for the next quarter to range from $1.5 million to $1.6 million. For complete details on US Dataworks’ latest results, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

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ShopSite v8.0 Adds Rewards and Loyalty Options

Utah-based ShopSite has released its new “ShopSite v8.0,” an e-commerce software option for Web hosting providers, which adds features such as “Rewards” and “Tell A Friend,” which merchants can use to increase customer retention and to obtain new customers. Besides allowing a faster and more secure checkout for shoppers using PayPal, it also provides an easy way for merchants to directly accept credit cards in their shopping cart. Merchants can now create gift certificates from within ShopSite. ShopSite, Inc.provides electronic commerce software for small to medium-sized businesses.

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MoneyWi$e Partnership Awards Stipends

San Francisco-based Consumer advocacy group, Consumer Action, and Capital One announced that their joint “MoneyWi$e” financial literacy partnership will award stipends totaling $75,000 to community groups in 10 states. This year, the MoneyWi$e program is awarding stipends to 28 community-based organizations teaching financial education. The stipends will help the organizations reach a broad base of individuals in a variety of financial situations, including college students, farm workers, first-time homebuyers, senior citizens, and individuals facing unemployment or homelessness. By providing free brochures in multiple languages (English, Spanish, Chinese, Korean, and Vietnamese), the MoneyWi$e program is able to address financial literacy across both income and ethnic barriers. More than one million brochures have been distributed to date. Consumer Action provides financial education to its community-based organization partners. Capital One’s subsidiaries collectively had 48.9 million accounts and $83.0 billion in managed loans outstanding as of June 30, 2005.

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NCR Opens a RFID Demonstration Center in Atlanta

NCR has opened “TransitionWorks,” an expanded radio frequency identification demonstration center located in Atlanta with plans to announce new centers in Europe and Asia in the near future. The TransitionWorks center will reflect the scope of NCR’s end-to-end portfolio of current or soon-to-be-announced RFID solutions and services, including comprehensive global consulting services, UHF reader solutions, hand-held RFID scanners, RFID labeling solution and data warehousing solutions. NCR Corporation is a provider of ATMs, retail systems, data warehouses and IT services.

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Portfolio Recovery Associates Acquires Alatax

VA-based Portfolio Recovery Associates has acquired substantially all of the assets of Alatax, a privately held company that specializes in government collections. The acquisition has a total price of $17.5 million, consisting of $16.1 million in cash and $1.4 million in Portfolio Recovery Associates common stock. Alatax’s two top executives, President Kennon Walthall and Executive Vice President Stephen Morris, have both signed long-term employment agreements and will continue to manage the company. Alatax is a provider of outsourced business revenue administration, audit and debt discovery/recovery services for local governments. Portfolio Recovery Associates is a full-service provider of outsourced receivables management and related services.

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Payment Data Systems’ Revenue Quadruples in Q2

San Antonio-based Payment Data Systems reported that second quarter revenues increased 391% to $314,926. Net loss for the quarter was $496,531, compared to net loss of $302,949 for 2Q/04. Credit card transaction volume was up 26% for the second quarter and the related dollar volume was up 29% from the first quarter. As a consequence, revenues for the second quarter grew 30% from $242,962 for the preceding first quarter with the growth in credit card processing leading the increase. For complete details on Payment Data Systems’ latest results, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

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Intersections’ Revenue Increases 10.3% in Q2

VA-based Intersections reported net income for the second quarter of $3.2 million, compared to $2.9 million for the year-ago quarter. Total subscribers increased to approximately 3.18 million as of June 30th, compared to approximately 2.98 million at the end of the first quarter. Subscriber additions in the second quarter were approximately 727,000. Intersections is a provider of branded and fully-customized consumer credit management and identity theft detection, protection and resolution services to the customers of financial services companies. For complete details on Intersections’ latest results visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

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Jack Henry & Assc Q2 Revenues Up 12.2%

MO-based Jack Henry & Associates reported revenue of $141.4 million compared to $126.0 million in the same quarter a year ago. Gross profit increased to $59.9 million compared to $53.3 million in the year-ago quarter. Net income totaled $21.7 million, compared to $17.6 million for 2Q/04. License revenue decreased 10% to $19.7 million. Hardware sales in the quarter increased 5% to $21.5 million. For the quarter, the bank systems and services segment revenue increased 14% to $113.3 million. Jack Henry’s support and service revenue had a 20% increase for the quarter. Its recurring revenue, which consists of ATM and debit card processing, in-house support and outsourcing revenue, represented 61% of total revenue for the quarter. For complete details on Jack Henry’s second calendar quarter performance, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

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Citi Cards Expands its Iowa Facility

Citi Cards is expanding its Urbandale, Iowa center with the addition of up to 200 jobs and construction of a 170,000 square foot facility, scheduled for completion in January. Employees at the new site will handle remittance processing and statement printing and mailing for the Citi Cards bankcard, retail card and oil card portfolios, as well as Citi Cards processing related to other Citi businesses. Citigroup global financial services company, has some 200 million customer accounts and does business in more than 100 countries.

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