PSPR, a leading financial newsletter, alerts investors of stocks on the move.
Sign Up Here for Free Stock Alerts
Direct Insite Corp.(OTCBB: DIRI), a global provider of financial supply chain automation across Procure-to-Pay and Order-to-Cash business processes, recently announced financial results for the three and six months ended June 30, 2009. Revenue for the three months ended June 30, 2009 was a record $2,880,000, a 22.8% increase over revenue of $2,346,000 for the three months ended June 30, 2008. Revenue for the six month period ended June 30, 2009 was $5,174,000, an increase of 20.3% over revenue of $4,301,000 for the same period in 2008. Recurring revenue was $2,253,000 for the three months ended June 30, 2009 compared to recurring revenue of $1,823,000 for the three months ended June 30, 2008. For the six months ended June 30, 2009 recurring revenue was $4,485,000 compared to recurring revenue of $3,652,000 for the same period in 2008, an increase of 22.8%. The increase in recurring revenue is attributed to additional customers, growth in services to continuing customers, and the increasing rate of paper invoices converting to electronic invoices. Revenue from Professional Services increased $104,000 (19.9%) to $627,000 and $40,000 (6.2%) to $689,000 for the three and six months ended June 30, 2009, respectively, compared to the same periods in 2008.
"We achieved record revenue in the second quarter and continue to deliver strong cash flows and profits," said James A. Cannavino, Chairman and CEO of Direct Insite. "Our record revenue re-enforces the fact that our customers are well served and deriving significant value from our solutions. As a result, we are well positioned to win new business and further grow revenues among our existing customer base," said Mr. Cannavino.
Direct Insite provides best practice financial supply chain automation and workflow efficiencies for procure-to-pay and order-to-cash processing. The Company's global eInvoice Management services automate complex manual business processes such as invoice validation; order matching, consolidation, dispute handling, and e-payment processing. Direct Insite solutions are used by more than 20,000 users across 65 countries, 17 languages and multiple currencies.
Sign Up for PSPR’s Free Small Cap Newsletter. To subscribe please enter your email address in the frame at the bottom of this page or visit us at our website.
Subscribe at the bottom of this page.
About Us
Penny Stock Pick Report is a leading stock web site that provides free stock alerts on stocks that are poised to make big gains. We also track small cap companies that could be on the brink of a massive breakout. To feature a company on our web site please contact us at the email listed below.
PSPR is an independent electronic publication that provides information on selected publicly traded companies. PSPR is not a registered investment advisor or broker-dealer. Our affiliates, officers, directors and employees may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above. View our full disclaimer.
