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Friday, October 23, 2009 |
CyberSource reports strong growth in revenue and profit for Q3
CyberSource Corp., a provider of electronic payment and risk management services, is having a good year, the company reports.
For the third quarter ended Sept. 30, CyberSource reports:
- revenue of $65.7 million, a 14% increase from $57.7 million a year earlier;
- net income of $2.7 million compared to net income of $207,000 a year earlier;
- processing volume of 611 million transactions, a 30% increase over the same period the previous year; the value of transactions processed was $29 billion, a 6% increase over Q3 2008;
- the addition of 35,000 customers, up 26% over the prior year. Its customer base is now 284,000.
For the first nine months of 2009, CyberSource reports:
- revenue of $189.0 million, up 13.4% from $166.7 million in the first nine months of last year;
- net income of $5.9 million compared to $695,000 a year ago.
For the fourth quarter, CyberSource expects:
- total revenue of $73.0 million to $74.0 million;
- net income of $2.1 million to $2.6 million;
- processing volume of 670 million to 680 million transactions.
“Our strong results this quarter reflect our expanding customer base and our successful expansion internationally,” says Bill McKiernan, chairman and CEO. “I am very pleased with the strength and underlying trend of these numbers, which reflect our broad base of channel partners and the growth of new business formation in e-commerce.”
CyberSource added as new customers in the quarter GE Consumer & Industrial, Make A Wish International, Palm Inc., Rosetta Stone, Sierra Trading Post and Sur La Table.
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