Payment Data Systems Inc (PYDS)

[Andy3077]

Michael Long, CEO, said, "I am very pleased with the company's tremendous growth in transactions this year. It should be noted that in early September a number of our sales agreements came up for renewal; we were able to renew all affected agreements with higher profit margins. The new margins had positive effects on earnings during the last month of the third quarter and will also create positive changes in earnings for the fourth quarter and into the foreseeable future. The fourth quarter is traditionally our best quarter of the year for transactions processed. We expect charitable giving to be up this year and our large customer base of churches and charities should lead to record transactions in Q4. We look forward to closing out the year with record annual revenues and income."

Our quarterly earnings for the third quarter of 2014 are anticipated to be released in our 10Q report on or about November 14, 2014.