July 26, 2007
Authorize reports 2Q earnings
By Matthew L. Brown
Authorize.Net Holdings Inc. of Marlborough reported second quarter income of $2 million on revenue of $17.2 million.
The company said the revenue figure was a record, and a 24 percent increase over the second quarter of 2006. The company, which makes systems that allow internet companies to accept credit card payments, reported income of $457,000 for the second quarter of 2006.
The results include share-based compensation expense of $588,000, restructuring charges of $93,000 due to a reduction of staff related to the company's sale of its Telecom Decisioning Services business and acquisition costs of approximately $908,000 related to the pending merger with CyberSource Corp. announced in June.
Included in the first six months of 2006 was share-based compensation expense of about $2.4 million, restructuring charges of $114,000, and a patent litigation settlement expense of $1.5 million.
The company said the revenue figure was a record, and a 24 percent increase over the second quarter of 2006. The company, which makes systems that allow internet companies to accept credit card payments, reported income of $457,000 for the second quarter of 2006.
The results include share-based compensation expense of $588,000, restructuring charges of $93,000 due to a reduction of staff related to the company's sale of its Telecom Decisioning Services business and acquisition costs of approximately $908,000 related to the pending merger with CyberSource Corp. announced in June.
Included in the first six months of 2006 was share-based compensation expense of about $2.4 million, restructuring charges of $114,000, and a patent litigation settlement expense of $1.5 million.
WBJ Web Partners
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