Date Posted: 5/5/2004
April X-Charge New Business Sets New High
FOUNTAIN VALLEY, Calif., May 3 /PRNewswire-FirstCall/ -- CAM Commerce Solutions, Inc. (Nasdaq: CADA - News) announced today that the total dollar amount of new X-Charge payment processing applications received in April again set new company records for a single month. The record announced last month of $74.7 million was surpassed in April at $77.3 million. The company received 204 payment processing applications in April, representing approximately $77.3 million in potential annual credit card processing volume. While not all applications will necessarily result in active payment processing accounts, the company anticipates the vast majority will.
The company also announced that 7 new X-Charge resellers brought their first customers live in April, putting the total number of resellers with at least one active customer account processing with X-Charge at 73.
"While it is not our intention to announce our new X-Charge sign-up numbers every month, we wanted to follow up last months announcement to show the trend we are seeing", said Geoff Knapp, CEO of CAM Commerce Solutions. "New business is strong and new resellers continue to integrate X-Charge into their software applications".
X-Charge is a payment processing software that is integrated with our point of sale software, and the software of our resellers. We provide payment processing services for our customers utilizing X-Charge software and a third party credit card payment processor. X-Charge generates revenues for us based on sales transaction payment processing (credit card) services provided to our customers and our reseller's customers.
About CAM Commerce Solutions
CAM Commerce Solutions, Inc. provides total commerce solutions for traditional and web retailers that are based on the Company's open architecture software products for inventory management, point of sale, sales transaction processing, accounting, and payment processing. These solutions often include hardware, installation, training, service, and payment processing services provided by the Company. You can visit CAM Commerce Solutions at www.camcommerce.com.
Important Information
The statements made in this news release, including those relating to the expectations of profitability and economic climates, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Words such as "will," "should," "believe," "expect," "anticipate," "outlook," "forecast," "optimistic," "feel," "potential," "continue," "intends," "plans," "estimates," "may," "seeks," "would," "future," "bright," "projected", and other similar expressions that predict or indicate future events or trends, or that are not statements of historical matters, identify forward-looking statements. Expectations concerning financial results for future quarters are not actual results and are based upon preliminary estimates, as well as certain assumptions management believes to be reasonable at this time. Investors should not rely upon forward looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from our expectations, and the company expressly does not undertake any duty to update forward-looking statements which speak only as of the date of this news release. The performance of any one month or quarter may not be indicative of future performance, particularly given prevailing market and economic uncertainties. In addition to the factors set forth elsewhere in this release, the economic, competitive, technological, and other factors identified in CAM Commerce Solutions' filings with the Securities and Exchange Commission could affect the forward looking statements contained in this news release.
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Source: CAM Commerce Solutions, Inc.
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