US Dataworks Reports Profitability and Revenue Growth for Fiscal 2015.
SUGAR LAND, Texas, Sept. 3, 2015 /PRNewswire/ -- US Dataworks, Inc. (OTC PinkSheets: UDWK), a leader in payment processing technology, today announced financial results for the fiscal year ended March 31, 2015 (FY 2015) following the completion of its annual audit.
The company experienced an increase in revenue over the previous year and achieved a significantly profitable FY 2015, earning $0.02 per share based on EBITDA (defined as Earnings before Interest, Taxes, Depreciation and Amortization).
The company's balance sheet also improved significantly year over year as debt was restructured with its two affiliate debtholders. This restructuring included a reduction in interest rate by more than 50% and an extension of the maturity date to January 2018. In addition, the company has reduced its accounts payable by thirty-seven percent (37%) and has reduced its office lease expense by subleasing approximately one-fourth (1/4) of its office facilities located in Sugar Land.
John Penrod, CEO stated, "The financial success we achieved in fiscal 2015 can be attributed to our great customer relationships, dedicated executive team and our unwavering focus on the Clearingworks -- Integrated Receivables product." Clearingworks is used by banks and the businesses they serve to deliver a modern treasury solution for the growing problem of electronic B2B remittances.
About US Dataworks
US Dataworks is a leading innovator in payment processing technology. Our Clearingworks platform is a highly-scalable, open and cloud-optimized payment-processing platform, capable of handling all forms of payments. The Clearingworks platform is trusted to process billions of dollars in payments each day for banks, businesses and government agencies. Additional information about US Dataworks is available at www.usdataworks.com.
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SOURCE US Dataworks, Inc.
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|Article Type:||Financial report|
|Date:||Sep 3, 2015|
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