PORTLAND, Ore. – Corillian Corp. beat the Street with a record profitable quarter for the three months ending June 30, the Internet banking vendor said. The company had net income of $1.8 million, or 5 cents per diluted share. First Call’s consensus estimate for the Nasdaq-traded stock had been a net loss of 1 cent per share, which the company had recorded in the first quarter of the year. Second quarter revenues were $11.5 million, compared with $10.8 million for the previous quarter and $9 million for the second quarter of 2003, Corillian said. “We achieved GAAP (generally accepted accounting principles) profitability for the first time in company history, well ahead of our 2003 plan. This achievement, combined with our revenue growth, cost containment and cash generation, represents a significant milestone in the history of our company,” said Alex Hart, Corillian’s president and CEO The company said approximately 11.6 million end users, more than a quarter of the online banking and bill payment population of the United States, use Corillian’s Voyager platform. That’s up from 7.2 million in the year-ago quarter.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.