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Corillian Down for Quarter, But Up for Year

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...

By Staff Writer | Updated on November 04, 2003

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.

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