Revenue at CyberSource Corp., a provider of electronic payment and risk management products and services, rose 39% to $17.4 million for the third quarter ended Sept. 30, up from $12.5 million in the year-earlier period, and it added about 1,600 new customers during Q3 including retailers 1-800-PetMeds and American Girl, the company said.
Transaction volume in Q3 rose 28% to a record high of 203.9 transactions, up from 159.5 million a year ago, CyberSource says. CyberSource UK customers processed a record 34.1 million transactions in Q3, it adds.
Net income in Q3 was $300,000, down 81% from $1.6 million a year ago. Non-GAAP net income, which excludes stock-based compensation expense and other non-recurring charges, was $2.2 million, up 22% from $1.8 million.
For the nine months ended Sept. 30, revenue rose 39% year-to-year to $49.3 million from $35.6 million, as net income dropped 50% to $2 million from $4 million. Non-GAAP net income rose 57% to $7.2 million from $4.6 million a year ago.
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