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RDM reports quarterly loss, hits milestone

Posted 3725 days ago by OttWatch in category Company News with 0 Comments 

WATERLOO – RDM Corporation, a provider of solutions for the electronic commerce and payment processing markets, posts revenues for the second quarter ended March 31 of $5.8 million, compared to $6.8 million in the comparable period in 2008. Net losses widened from $0.3 million to $0.9 million, due largely to a foreign exchange loss of $0.6 million. “I am encouraged by the continued momentum of our recurring revenue,” says president and CEO Douglas Newman. "Despite the difficult economic environment, our average transaction volumes and total end user locations are both up nearly 50% compared to the prior year. We recently reached an important milestone by processing one million transactions in a single day.” Click here for complete financial results.