TSA 1Q/01

Transaction Systems Architects reported revenue for the quarter ending Mar 31 of $76.5 million and operating cash flow of $8 million. The company announced that William Fisher, Chairman and CEO, will step down from both of his current positions. Larry Fendley, a current board member, will assume the role of interim CEO during an executive search period. Revenue for its Consumer e-Payments business was up 6% over the prior year and new orders in that unit were up substantially from the year ago period. The Company completed the second quarter of fiscal 2001 with $187 million in backlog, consisting of $55 million in non-recurring backlog and $132 million in recurring backlog. This compares to the backlog of $184 million at the end of the first quarter of fiscal 2001. For more details on TSA’s 1Q/01 results visit CardData ([www.carddata.com][1]).

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


Puck IDine

Transmedia Network Inc., the leading provider of transaction-based dining rewards programs, announced the addition of 19 Wolfgang Puck casual dining locations throughout the United States to its restaurant portfolio. Starting this month, members of Transmedia’s iDine dining rewards programs will have the ability to earn dining benefits at four Wolfgang Puck Grand Cafes, thirteen Wolfgang Puck Cafes and two Wolfgang Puck Express restaurants nationwide.

“Wolfgang Puck’s casual restaurants and the fusion cuisine that he has popularized provide an excellent dining selection for our member base of more than five million dining enthusiasts,” said Gene Henderson, President and CEO of Transmedia. “Our partnership with Wolfgang Puck Casual Dining represents an incremental income generating opportunity for their restaurants along with exposure to a very attractive customer base. In return, our members receive excellent reward opportunities coupled with a very desirable dining experience.”

iDine dining rewards programs are easy to use. Members simply register up to three major credit cards (Visa, MasterCard, American Express or Discover) with iDine (www.idine.com or 1.877.491.DINE), then use that registered credit card to settle the bill at participating restaurants. The members will automatically receive their dining benefits in a very discrete manner as a credit on their credit card statement or as miles awarded to their frequent flier account. There is no need to use coupons, discount cards or the like.

“The partnership with iDine provides us with access to a large, desirable group of regular restaurant patrons who we believe will want to make our restaurants a regular eating place,” said Rob Kautz, President & CEO of Wolfgang Puck Casual Dining. “Our nationwide locations and iDine’s geographically dispersed member base, particularly its airline dining rewards members, represent an excellent combination for driving incremental dining revenue.”

About Transmedia Network Inc.

Transmedia Network Inc. (AMEX: TMN) presently offers its 5.6 million members a variety of dining savings and rewards programs at more than 7,500 restaurants throughout the United States via means of a registered credit card. The dining savings are offered through the Company’s programs, either branded under the name iDine or provided through private label partnerships, such as airline frequent flyer programs, club memberships, or other affinity organizations. iDine members can access personalized, real-time restaurant listings, special dining incentives and more via their newly re-launched web site, [www.idine.com][1].

About Wolfgang Puck Casual Dining

Wolfgang Puck Casual Dining(TM) is the successor name for Wolfgang Puck Food Company, Inc. Company operations comprise 34 Wolfgang Puck(TM) branded restaurant locations including five Grand Cafes, twelve Cafes, and fifteen quick service Express units including one at a university, five at airports and six in supermarkets. Avalon Cove, a new seafood concept, opened inside Disney’s new California Adventure theme park on February 8, 2001, a Cafe opened in April in Osaka, Japan, and Canada is under development with a Canadian operating partner. The Company is presently signing area development partners for the Wolfgang Puck Express(TM) to develop regions of the U.S.

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


AuctionWatch c2it

AuctionWatch, a leading provider of software solutions that enable businesses of all sizes to efficiently sell merchandise online through dynamic and fixed price marketplaces, announced a strategic and exclusive alliance with c2it by Citibank, Citigroup’s online person-to-person payment service. This strategic alliance makes Citibank’s c2it service the preferred payment provider for AuctionWatch’s suite of auction services and storefront commerce. In addition, it is first time an online P2P payment service supported 100 percent by a financial institution has entered and forged an alliance with an online auction management company to offer services to the auction community.

The joint service, which will embed c2it’s payment service within AuctionWatch’s e-commerce solution, will provide sellers and buyers the ability to exchange funds rapidly within a secure environment. For sellers, the automated solution reduces the amount of work required to sell an item. After an item is sold at auction, an invoice is automatically sent to the buyer on behalf of the merchant with transaction details to close the sale. For buyers, the process is simple — they can conveniently pay for auction merchandise by following a link from merchants’ invoices to c2it’s payment solution, which will be seamlessly integrated into AuctionWatch’s site. When the buyer pays for the item using c2it, the seller then receives notification in their AuctionWatch account and prints an automatically formatted packing slip for shipment. c2it functionality on AuctionWatch’s site will begin in June with full integration completed by Fall 2001.

In addition to offering payment solutions for online auctions, c2it will also be the featured payment provider within AuctionWatch’s merchant storefronts, a place where sellers offer merchandise to buyers at a fixed price, offering both parties the same efficiencies and safety measures as purchasing items through auction.

“Teaming up with a leading online auction services company was a natural choice for us,” said Antony Jenkins, COO of c2it. “We are dedicated and committed to building a leading stake in the person-to-person payment space, and this alliance is another step in that direction. AuctionWatch is a company with extensive experience and understanding of the online auction community. Bringing c2it to AuctionWatch’s customers aligns with our strategy of making c2it widely available across the Web.”

“We are very excited about our agreement and pleased to be working with one of the world’s largest financial institutions to offer our merchants top-tier payment services. c2it will be instrumental in automating sellers’ payment and fulfillment cycles by fostering faster and more efficient e-business practices for our merchants,” commented Rodrigo Sales, CEO of AuctionWatch. “We also believe buyers will find comfort and trust with our merchants, knowing they are using a well-known financial services brand like Citibank to handle their payment transactions.”

Results of a survey that c2it conducted to poll AuctionWatch’s merchants on their needs for a payment and billing solution confirm that c2it’s services provide exactly what the online auction merchant community wants. The top attributes of a payment service desired by sellers include speed of accessing money, the backing of a stable financial institution, a secure transaction environment, and around-the-clock phone customer service availability. c2it provides these services and more, including an option for handling international payments in the near future.

About AuctionWatch

With over four million unique visitors a month and hundreds of thousands of registered sellers, AuctionWatch is widely recognized as the company of choice for businesses looking to efficiently distribute merchandise online and cost-effectively acquire customers. In addition to its suite of powerful seller services, AuctionWatch offers buyers an industry-leading search capability, allowing them to conveniently locate items across numerous auction and fixed-price sites. The company also publishes daily content on the auction industry and has the most active independent message boards of its kind. Based in San Bruno, California, AuctionWatch is privately held and funded by Sequoia Capital, Technology Crossover Ventures, CMGI @Ventures, meVC Draper Fisher Jurvetson Fund I, Angel Investors LP, Bulldog Capital, Argus Capital and private investors. Visit the AuctionWatch website at [http://www.auctionwatch.com][1].

About Citigroup

Citigroup, the preeminent global financial services company, provides some 120 million consumers, corporations, governments and institutions in more than 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. Major brand names under Citigroup’s trademark umbrella are Citibank, CitiFinancial, Primerica, Salomon Smith Barney, and Travelers. Additional information may be found at: [http://www.citigroup.com][2].

[1]: http://www.auctionwatch.com/
[2]: http://www.citigroup.com/


Bankrate 1Q/01

FL-based Bankrate.com’s race to survivability made it through another quarter. The online personal finance information Web site reported a net loss of $625,000 for the first quarter compared to a $7.1 million net loss for 1Q/00. Bankrate says its online publishing revenue hit $3,961,000 compared to $3,014,000 in the same period in 2000. Barter expenses for the first quarter were $986,000. Bankrate says its web traffic has soared from 1.4 million unique visitors per month during 4Q/00 to 3.0 million per month for the first quarter 2001. The company has sightly more than $8 million in cash on hand but has been delisted from NASDAQ and now trades OTCBB. For more details on Bankrate’s 1Q/01 results visit CardData ([www.carddata.com][1]).

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


uBid Card

Household International, Inc., through its private label credit card unit, has signed an agreement to manage a new private label credit card program for uBid, a majority-owned operating company of CMGI and leading retail auction and e-commerce site. Through the agreement, uBid customers will be able to apply for instant credit with no annual fee using the uBid card, managed by Household.

“We are pleased to align with uBid, another great Chicagoland company, to bring valuable customized financing solutions to customers,” said Sandy Derickson, managing director and CEO, Household Retail Services. “With the uBid agreement, Household truly is positioned as the premier private label credit card provider to the best retail e-commerce companies.”

Customers who use the uBid card will receive added benefits, such as lower shipping costs and special financing offers. For example, from time to time, uBid cardholders can take advantage of 90 days “same as cash” financing, which means they pay no interest for three months after a purchase. Household will manage the financing of these offers.

“We believe this strategic relationship with Household will help us achieve our mission of consistently delivering exceptional value and service to our customers,” said Greg Jones, president and CEO, uBid. “Lower shipping costs, smart financing arrangements and other special offers will mean better values for our customers, and keep them coming back to our site.”

In addition to uBid, Household offers private label credit cards and sales finance products for several other online retailers as well as other national and regional merchants in industries such as furniture, department store, consumer electronics, specialty discount and apparel. Household also provides financing for dealers in motorcycles, ATVs, personal watercrafts and snowmobiles.

About uBid

uBid, a majority-owned operating company of CMGI, Inc., is a leading retail auction and e-commerce site, offering consumers and small- to mid-sized businesses the opportunity to purchase a wide range of brand-name merchandise, often at greatly reduced prices, through live-action bidding using sophisticated auction technology. The company’s Internet auctions feature a rotating selection of more than 12,000 products daily. uBid sells products in more than 12 different product categories, including computer equipment; consumer electronics; home and leisure; sports and recreation; jewelry and gifts; apparel; home improvement products; art; appliances; and travel and events. In addition, consumers may participate in the new uBid Auction Exchange marketplace, in which third-party vendors and consumers list their items for auction.

With more than 2 million registered users, uBid is committed to providing its customers with the highest quality auction experience on the Internet and offers supplier warranties on most consumer products. uBid also meets Better Business Bureau Online standards, which gives customers the confidence and security to bid safely online. For more information, visit the company’s Web site at [http://www.ubid.com][1].

About Household

Household’s businesses are leading providers of consumer finance, credit card, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household’s largest business, founded in 1878, operates under the two oldest and most widely recognized names in consumer finance- HFC and Beneficial. Household is also one of the nation’s largest issuers of private-label and general purpose credit cards, including the GM Card and the AFL-CIO’s Union Privilege card. For more information, visit the company’s web site at [http://www.household.com][2].

uBid and uBid.com are trademarks of uBid, Inc. All other products and services mentioned may be trademarks or service marks of their respective owners.

[1]: http://www.ubid.com/
[2]: http://www.household.com/


Coinstar Hits UK

Coinstar Inc. announced plans to rollout the Coinstar service in the United Kingdom. Agreements have been reached with Asda Stores, a subsidiary of Wal-Mart, and Sainsbury’s Supermarkets. Combined, Asda and Sainsbury’s operate 680 stores in the United Kingdom and have a market share of nearly 40 percent. Today’s rollout announcement was prompted by consumer demand for the Coinstar service. Coinstar installed its first machines in the United Kingdom just two years ago as part of an eight store pilot test. Strong initial customer response prompted Coinstar to install nineteen more pilot machines in 1999 and 2000.

“The United Kingdom represents a great expansion opportunity for Coinstar,” said Alex Camara, managing director of Coinstar’s United Kingdom business. “With signed contracts from two of the country’s leading retailers, we fully expect to repeat the success Coinstar has enjoyed in the United States.” “We know the United Kingdom is a very attractive market for Coinstar based on the results achieved during our two year pilot,” said Rich Stillman, chief operating officer of Coinstar. “Additionally, because much of the U.K. infrastructure is located at our Bellevue headquarters, Coinstar is able to further leverage its U.S. operation.”

About Coinstar Inc.

Coinstar Inc. (Nasdaq:CSTR) owns and operates the only nationwide network of supermarket-based machines that offer coin counting and other electronic services. Linked by a sophisticated interactive network, the company has more than 8,500 machines throughout North America as well as in the United Kingdom. Meals.com, the company’s majority-owned subsidiary, is an infrastructure provider that helps supermarket retailers and packaged goods manufacturers communicate directly to consumers through the use of online and in-store technologies.


PayMaxx Card

Internet payroll pioneer PayMaxx and BankTennessee have teamed up to introduce a ‘VISA’ debit card enabling employees to make purchases and withdraw money at ATMs and POS locations worldwide. The ‘PayMaxx PayCard’ is being targeted to employees who may not otherwise have a checking account or bank relationship. Under the program, employees receive monthly statements and have access to a toll-free customer service line and 24-hour toll-free, bilingual, instant account information line. Payroll funds are directly deposited into the VISA accounts every payday. PayMaxx says its research shows that employees in high turnover industries often find obstacles to cashing their payroll checks and managing their funds. The payroll company says it will target hospitality, manufacturing, fast food, and trucking industries for the debit card product. The card is honored by the ‘Plus’ and ‘Star’ debit systems, as well as 600,000 ATMs.


Euronet 1Q/01

Euronet Worldwide reported Monday a 24% increase in revenues for the first quarter, from $11.9 million for 1Q/00 to $14.8 million for 1/01. The operating loss for the first quarter was $3.65 million compared to $7.20 million one year ago. The Network Services Division posted first-quarter revenues of $10.85 million, up 31% over revenues of $8.26 million for the same period of 2000. The number of ATMs owned or operated by Euronet Worldwide increased by 12% over first quarter 2000 from 2,383 ATMs to 2,661 ATMs at the end of this quarter. Quarterly transactions on the network increased by 35%, from 11.0 million in first quarter 2000 to 14.9 million in first quarter 2001. Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, France, the Middle East, the U.K., Greece and the U.S.


Drexler 1Q/01

Drexler Technology Corporation, producer of LaserCard optical memory cards and data systems, and licensor of optical data storage patents, today financial results for the fiscal 2001 fourth quarter and year ended March 31, 2001. The Company announced record-level net income, pretax income, earnings per share, and revenues for fiscal year 2001.

Net income rose 21% for the fiscal year ended March 31, 2001, to $6,487,000, or 62 cents per share diluted, from $5,360,000, or 54 cents per share diluted, for the fiscal year ended March 31, 2000. Revenues for fiscal 2001 increased 22%, to a record level of $20,877,000 from $17,092,000 for the previous fiscal year. Pretax income for the fiscal year rose 65%.

For the fiscal fourth quarter ended March 31, 2001, net income was $1,608,000, or 16 cents per share diluted, compared with $1,750,000, or 17 cents per share diluted, for last year’s fourth quarter. Revenues for the fiscal 2001 fourth quarter were $5,130,000 compared with $4,778,000 for the fourth quarter of last year. Pretax income for the fourth quarter rose 37%.

Pretax income growth this year was significantly greater than net income growth due to reduced income tax benefits. Net income for the fiscal 2001 fourth quarter included an income tax benefit of $346,000 compared with $827,000 for the fiscal 2000 fourth quarter. Net income for fiscal year 2001 included an income tax benefit of $1,833,000 compared with $2,537,000 for fiscal year 2000. These amounts were recorded under Statement of Financial Accounting Standards No. 109 (SFAS 109), “Accounting for Income Taxes.”

The Company’s cash, cash equivalents, and short-term investments increased to approximately $11,608,000 at March 31, 2001, from approximately $8,221,000 at March 31, 2000. The Company has no debt. During fiscal 2001 ended March 31, 2001, the Company used about $2.8 million in cash to repurchase 194,850 shares of its common stock on the open market, which offset the issuance of about 155,000 shares under the Company’s Employee Stock Purchase Plan and Stock Option Plan. As of March 31, 2001, there were 9,824,027 shares of Drexler Technology Corporation common stock outstanding compared with 9,864,103 shares outstanding as of March 31, 2000.

Headquartered in Mountain View, Drexler Technology Corporation (www.lasercard.com) invents, develops, and manufactures optical data storage products and systems. It holds more than 50 United States patents and about 70 foreign-counterpart patents in a dozen countries, related to optical data storage media and laser recording technology. Drexler Technology manufactures LaserCard(R) optical memory cards and optical memories for smart cards. Its wholly owned subsidiary, LaserCard Systems Corporation, makes optical card read/write drives, develops optical card system software, and markets card-related data systems and peripherals. LaserCard(R) optical memory cards are used for “digital governance” applications such as immigration, visas, cargo manifests, motor vehicles, import-duty collection, pay-per-use systems, and ID/access; and for healthcare and other digital read/write wallet-card applications.

For complete details on Drexler’s 1Q/01 results visit CardData ([www.carddata.com][1])

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


Credit Insight Licensing

Credit Insight, launched recently by Privista, gives consumers unlimited online access to their credit report in a simple-to-read design. Consumers using Credit Insight are also provided with a credit rating that compares them to the U.S. population, their state of residence and their age group. In addition, consumers receive guidance on how to improve their credit rating and how to resolve errors, and a visual record of how their rating has changed month to month for the past year. Credit Insight scans a consumer’s credit file each week so that the information delivered is the most current available. Equifax, a member of Privista’s investor group, is the primary source of the credit information. Privista’s ID Guard, the early warning e-mail service that alerts consumers to possible instances of identity theft and credit fraud, is included in the $29.95 annual subscription. Privista is seeking to make Credit Insight available to banks, merchants, and financial institutions for them to license to their customer base. Eric Gertler is President/CEO in New York.


FundsXpress Adoption

FundsXpress Financial Network, Inc. a leading supplier of Internet-based financial services, announced financial institutions using FundsXpress Internet Banking experienced over 300% increase in user adoption over the past six months. This increase was further validated by a 107% increase in active bill pay users and a 103% increase in number of bills processed. The increase in end-user adoption for banks and credit unions validates the successful model used by FundsXpress to offer a product valued by the end user and to partner closely with the financial institution. This partnership involves teaming with the financial institution to support their marketing strategies, increase the number of account holders banking online, create opportunities to cross-sell and to build long-lasting relationships with the institution.

The record-level end-user adoption rates indicate that FundsXpress has created a successful model in partnering with their financial institution customers. FundsXpress continues to gain new financial institution clients while at the same time increasing marketing, compliance and customer care support to their current financial institution customers.

“Our success is unmistakably dependent upon the success of our financial institution customers,” said Chris Miller, vice president of sales and marketing for FundsXpress. “We take our partnerships with these institutions seriously in that we are doing everything possible to help get their account holders online. We offer training, one-to-one marketing, compliance support – – whatever helps the financial institution speak to their customers. To see the validation of the technology of our product coupled with our customized marketing programs increasing Internet adoption by 300% is extremely satisfying.”

Employee training, incentives, and ongoing marketing support are critical components of partnering with the financial institution to increase the number of users banking online. Innovative marketing support, award-winning security and 24/7 customer care are all available to the financial institution.

“FundsXpress has operated as an invaluable partner in helping us get our account holders online and staying online,” said Colleen Butler, vice president of marketing for Elk Horn Bank & Trust. “The strong marketing support we continue to receive has been critical in getting our users to sign up for Internet Banking. Their competitive pricing structure encourages us to gain new users. The fact that it is an easy to use product, however, is what has convinced our account holders to stay online and actively use our online services.”

Founded in 1997, FundsXpress is building upon current success and momentum to develop new Internet-based products. In addition to Internet banking, bill payment, cash management and online brokerage products, FundsXpress provides new online shopping choices through its portal with a secure digital wallet issued by the financial institution.

About FundsXpress

FundsXpress, Inc., together with FundsXpress Financial Network, Inc. and its other subsidiaries headquartered in Austin, Texas, offers a wide range of secure, reliable and convenient Internet-based financial services and products including the FundsXpress Financial Portal, secure Internet banking, online brokerage and lending. For more information, please visit the company at [http://www.fundsxpress.com][1].

FundsXpress and the FundsXpress Logo are registered trademarks of FundsXpress, Inc. Portana and FXPortal are also trademarks of FundsXpress, Inc. All other company and product names may be registered trademarks or trademarks of their respective companies/holders and are hereby recognized.

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


Trend View

Experian has launched a productivity enhancement tool designed to help credit card issuers retain and attract profitable cardholders by analyzing credit card usage patterns of their current and prospective customers. ‘Trend View’ enables card issuers to identify “gamers,” those consumers who quickly move from card to card or don’t fully use their open cards. Experian has developed three proprietary algorithms that identify ‘Rate Surfer’, ‘Revolver’ and ‘Transactor’ behavior. Eight ‘Rate Surfer’ and 24 ‘Revolver/Transactor’ attributes can be delivered as part of account review or acquisition activities. ‘Trend View’ is based on data stored directly on Experian’s ‘File One’ database that is fully compliant with FCRA. Experian matches monthly balances and credit limits and provides monthly updates that reflect up to 24 months of credit card balance history at the trade account level.