US DATAWORKS ANNOUNCES FISCAL 2011 FOURTH QUARTER RESULTS
Conference call at 11:00 a.m. eastern today
SUGAR LAND, TX – July 13, 2011 – US Dataworks, Inc. (OTC Bulletin Board: UDWK), a leader in payment processing solutions, today announced its financial results for its 2011 fiscal fourth quarter ended March 31, 2011.
Revenue for the fourth quarter of fiscal 2011 was $2.1 million compared to revenue of $2.1 million for the third quarter of fiscal 2011 and revenue of $1.6 million for the fourth quarter of fiscal 2010.
Net income for the fourth quarter of fiscal 2011 was $116,000, or $0.00 per diluted share, compared to net income of $224,000, or $0.01 per diluted share, for the third quarter of fiscal 2011 and a net loss of ($515,000) or ($0.02) per diluted share, for the fourth quarter of fiscal 2010.
Charles E. Ramey, Chairman and CEO of US Dataworks, commented, “We believe that the payments industry is on the cusp of a paradigm shift on how payments solutions will be sold, implemented, and supported going forward. This paradigm shift is delivering mission critical business solutions via Software as a Service (SAAS) approach or in a cloud environment. US Dataworks, with Clearingworks®, is the solution with its four pillars of ClearPayments™, ClearDeposits™, ClearReturns™ and ClearInsights™. With our new cloud-based offering, the same enterprise class Clearingworks service is now available to small-to-mid sized entities that want to process smaller volumes of payments each month, thousands as opposed to millions, through the cloud.”
Mr. Ramey continued, “We have recently partnered with OptimizedNow to augment our cloud computing sales force and formally launch our multi-channel marketing program for Clearingworks®, including putting a highly-structured insides sales team and sales process in place. With this partnership, we now provide a high-touch, proactive buying experience that cost-effectively drives qualified buyers to our solutions which we believe will drive significant growth over the next 3 to 5 years.”
The following information was filed by Us Dataworks Inc (UDWK) on Wednesday, July 13, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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