Date Posted: 11/27/2007
CAM Commerce Solutions 4Q Profit Doubles
CAM Commerce Solutions 4th-Quarter Profit More Than Doubles on More X-Charge Accounts
FOUNTAIN VALLEY, Calif. (AP) -- CAM Commerce Solutions Inc., which provides software to help retailers track inventory and bill customers, said Monday its fourth-quarter profit more than doubled in part on increased X-Charge payment processing accounts.
X-Charge is credit and debit card processing software that helps merchants provide secure transactions.
Earnings climbed to $1.6 million, or 38 cents per share, compared with $802,000, or 19 cents per share, in the previous year.
The company said 1,601 new X-Charge payment processing accounts were installed in the quarter, compared with 1,101 new accounts in the prior-year period.
Quarterly revenue increased to $9.2 million, up 31 percent from $7 million a year ago.
For the year, net income grew 81 percent to $4.7 million, or $1.12 per share, compared with $2.6 million, or 64 cents per share.
Full-year sales gained 18 percent to $32.2 million from $27.2 million on increased X-Charge payment processing revenue.
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