PORTLAND, Ore. – Corillian Corp. reported a slight decline in revenue in the just-ended third quarter but noted that the Internet banking and e-commerce vendor continued to be profitable. Revenues for the quarter ended Sept. 30 were $11.6 million, compared with $11.5 million for the second quarter of 2003, while net income was $1.6 million, or 4 cents per share for the Nasdaq-traded stock (CORI), compared with $1.8 million, or a nickel per share, in the previous quarter. That's a sharp improvement from the third quarter of 2002, when net loss was $5.6 million. The company said three more customers went live on the Corillian Voyager 3.0 platform in the third quarter, raising the total number to 16. Corillian said approximately 12.8 million end users were using its software, compared with about 8.2 million in the year-ago quarter, representing more than a quarter of the online banking and bill payment population of the United States.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.