Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GLASTONBURY, Conn. – Last year was a good one for Open Solutions Inc. In addition to earning headlines for strategic acquisitions, big contract wins and a successful IPO, the financial services core technology provider made money. OSI reported pro forma net income of $2.9 million for the fourth quarter of 2003 and $4.8 million for all of 2003, compared with net income of $600,000 for the year-ago quarter and a net loss of $2.9 million for 2002. The earnings came on revenue for $63.8 million for 2003, up 44% from the $44.3 million in 2003 revenues, OSI said. Last year’s black ink is just the beginning, the company’s senior executive said. “We believe that we remain at the early stages of a wholesale shift away from older, proprietary `layered-on’ legacy-based system applications to the types of open, flexible relational technologies that our company provides . which should lead to more demand for our solutions,” said Louis Hernandez Jr., OSI’s chairman and CEO.

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.