WEB NEWS Comments & Business Outlook
Second Quarter 2013 Results
Revenue for the three months ended June 30, 2013, was $2,518,000, an increase of $251,000, or 11.1%, from revenue of $2,267,000 for the three months ended June 30, 2012.
Recurring revenue for the three months ended June 30, 2013, was $1,969,000, an increase of $133,000, or 7.2%, from recurring revenue of $1,836,000 for the three months ended June 30, 2012. Net income for the three months ended June 30, 2013, was $197,000, an increase of $55,000 from net income of $142,000 for the three months ended June 30, 2012.
We continue to execute our business plan, boarding new customers onto the Invoices On-Line platform while rapidly increasing the number of companies on our Global Supplier Network," stated Direct Insite President, Chief Executive Officer and Director Matthew E. Oakes. "The recently announced customer roll-off sharpens our focus on increasing our sales activity to new customers as well as existing customers that can benefit from our new modules for dynamic discounting and company profile management."
Comments & Business Outlook
FT. LAUDERDALE, Fla., May 16, 2013 (GLOBE NEWSWIRE ) -- Direct Insite (OTCBB:DIRI), a leading provider of cloud-based e-invoicing solutions for Accounts Payable, Accounts Receivable, and Payments services, today announced that the Company is extending its Invoices On-Line ™ suite with fully integrated capabilities for Company Profile and Vendor Management. Direct Insite is the first e-invoicing solutions provider to offer integrated Company Profile and Vendor Management.
Direct Insite's Company Profile and Vendor Management enables organizations to:
Reduce the amount of time, number of resources and total costs associated with capturing, cleaning, validating and managing supplier or customer data;
Automate the process of inviting and registering suppliers to submit invoices electronically;
Provide front-line staff and finance executives with real-time visibility into supplier or customer data;
Maintain required supplier and/or customer information, including tax documents, which can be submitted electronically; and
Help ensure compliance with regulations and internal procedures.
"Direct Insite believes company profile and vendor management is the next logical step in extending our AP transformation into a complete offering. Aggregating, cleaning and maintaining company information facilitates AP transformation; from invoice submission through spend management and business intelligence," said Direct Insite President, Chief Executive Officer and Director Matthew E. Oakes. "Company profile and vendor management will drive electronic invoice submission and data compliance for buyers, while enabling suppliers to submit multiple forms in addition to invoices."
Direct Insite's Company Profile and Vendor Management automates the process of inviting individual suppliers and customers or groups of suppliers and customers to register on the Invoices On-Line™ e-invoicing portal, and guides companies through a self-service registration process. Existing suppliers or customers can be notified of requests for additional information. Company Profile and Vendor Management collects, cleans, validates and maintains supplier and customer data provided through the portal, routes the information for approval based on pre-defined business rules, and transmits approved data to the appropriate ERP system or other financial system.
The service manages data such as supplier and customer contacts and locations, remittance information, tax information, ownership information, diversity classifications, supplier classification, insurance and ISO certifications, banking information, payment terms, and contract information. Additionally, Invoices On-Line™ provides a PCI Compliant Payments Gateway that safeguards the card information entrusted to Direct Insite.
Comments & Business Outlook
First Quarter 2013 Results
Revenue for the three months ended March 31, 2013, was $2,360,000, an increase of $245,000, or 11.6%, from revenue of $ 2,115,000 for the three months ended March 31, 2012.
Basic and diluted earnings per share for the three months ended March 31, 2013 was $0.01 compared to essentially breaking even in the comparable prior period.
"We are continuing with our plan to grow our revenue through diversification of our client base, as we signed significant new agreements in the first few months of 2013. We expect our revenue to continue to increase over the prior year," stated Direct Insite President, Chief Executive Officer and Director Matthew E. Oakes. "As we go through the next few months, we will steadily roll out the implementation of our recent client wins. We remain focused on delivering a best-in-class product to meet the increasing demands for digital invoice processing that will help companies to eliminate paper, cut costs and improve their productivity."
