US Dataworks Announces Fiscal 2012 Fourth Quarter And Year End Results
SUGAR LAND, Texas, July 13, 2012 /PRNewswire/ -- US Dataworks, Inc. (OTC Bulletin Board: UDWK), a leader in payment processing solutions, today announced its financial results for its fiscal 2012 fourth quarter and year ended March 31, 2012.
Revenue for the fourth quarter of fiscal 2012 was $1.6 million compared to revenue of $2.1 million for the fourth quarter of fiscal 2011. Net loss for the fourth quarter of fiscal 2012 was $41,000, or $0.01 per share, compared to net income of $116,000, or $0.01 per diluted share, for the fourth quarter of fiscal 2011.
Revenue for the fiscal 2012 was $6.6 million compared to revenue of $7.3 million for fiscal 2011. Net loss for fiscal 2012 was $485,000, or $0.01 per share, compared to a net loss of $608,000, or $0.02 per share, for fiscal 2011.
Charles E. Ramey, Chairman and CEO of US Dataworks, commented, "During the fiscal fourth quarter, we made changes that have laid the groundwork for achieving our strategic goal of market dominance in the cloud payment processing space. These included organizational changes, changes to our sales and marketing approach and the development of a channel partner program. We continue to execute on this plan and are beginning to see results.
"We are in a strong position to help clients reduce their costs and become more efficient. First, we have a management team that is up to the challenge of taking the company to the next level. Second, our Clearingworks® product offering has set the standard in cloud payment processing. Third, we are ahead of our competitors in our approach to payment processing and the market is now ready," added Ramey.
"Our focus remains on customer acquisition, transactions under management and average price per transaction; and we believe that our future results should improve in fiscal 2013 as our unique value proposition is being introduced to additional customers of all sizes in this vast emerging market," concluded Ramey.
Conference Call Information
US Dataworks' management has scheduled a conference call to review its fiscal 2012 fourth quarter and year end results on Tuesday, July 17, 2012 at 11:00 a.m. Eastern time, 10:00 a.m. Central time. To listen to the call, dial (480) 629-9643 at least 10 minutes before the call begins and ask for US Dataworks' conference call. A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until July 24, 2012. To access the replay, dial (303) 590-3030 using a pass code of 4553184#.
Investors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting www.usdataworks.com. To listen to the live call on the web, please visit the Company's web site at least fifteen minutes before the call begins to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call.
Additional information about Clearingworks as well as US Dataworks can be found on the company's website at www.clearingworks.com
