Etracs Monthly Pay 2xleveraged (NASDAQ:LMLP)

Quarterly Results:

• Revenue for the three months ended March 31, 2011 was $25.2 million. Gross profit was $13.2 million or 53%.
• Income from operations was $11.7 million compared to a loss of ($93,000) for the previous year. Income before taxes was $11.6 million compared to a loss of ($141,000) for the previous year.
• Net income was $7.3 million or $0.26 per share, compared to a loss of ($185,000) or ($0.01) per share, last year.
• Net cash flow from operating activities for the three months was approximately $12.8 million.

"We are extremely pleased with these profitable results. Once again, all three of our business units produced positive cash flow. Revenue from our TPP segment continued to grow at just over 30%, up from an already impressive 22% last year. Our Company's evolution advanced with the continued monetization of our intellectual property assets. During the year, we licensed 14 defendants involved in our patent litigation primarily on a fully paid-up, non-recurring basis, which resulted in just over $30 million in revenue. We believe these monetized assets will be key in supporting our efforts both organically and inorganically as a growing payments processor, particularly during this very exciting time as commerce convergence opportunities continue to advance across many different models and industries," said Patrick H. Gaines, Chief Executive Officer of LML.

VANCOUVER, British Columbia, Feb. 10, 2011 (GLOBE NEWSWIRE) -- LML PAYMENT SYSTEMS INC. reports results for its third quarter and nine month period ended December 31, 2010.

• Revenue for the third quarter ended December 31, 2010 was $11,060,000, an increase of 133% over the $4,743,000 in revenue for the third quarter ended December 31, 2009.
• GAAP net income for the quarter was $2,119,000, or $0.08 per share, compared to a GAAP net loss of $396,000, or $(0.02) per share, for the third quarter ended December 31, 2009, an improvement of $2,515,000 or $0.10 per share.
• Non-GAAP net income was $2,679,000, or $0.10 per share, compared to $87,000, or $0.00 per share, for the third quarter last year. Non-GAAP net income excludes stock-based compensation, depreciation and amortization, and other non-cash items.
• Revenue for the nine month period ended December 31, 2010 was $22,010,000, an increase of 96% from revenue of $11,230,000 for the nine month period ended December 31, 2009.
• GAAP net income for the same period was $3,019,000 or $0.11 per share, compared to GAAP net income of $59,000 or $0.00 per share, for the same period during fiscal 2009, an improvement of $2,960,000 or $0.11 per share. 
• Non-GAAP net income for the nine month period ended December 31, 2010 was $4,587,000, or $0.16 per share, compared to $1,449,000, or $0.05 per share, for the same period last year. 

"We are pleased to announce these results for the third quarter and first nine month period of our fiscal year. All three of our business segments reported increased revenue and profitable results. Our Transaction Payment Processing segment continued to grow impressively at 30%. Our check business increased revenue by 22% and our Intellectual Property segment grew revenue by 350% during the last quarter. We are encouraged by these results and the impact of aligning our business segments; our products and services; and our customers' needs, as an increasing number of payments transition to electronic forms and are increasingly conducted over the Internet," said Patrick H. Gaines, Chief Executive Officer.  

Q3 Highlights

• Overall revenue increased 133%

• Intellectual Property segment settles litigation and licenses 5 defendants from Eastern District of Texas case

9 Month Highlights

• Overall revenue increased 96%

• Transaction Payment Processing segment revenue increased 30%