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JetPay machine rolling on as it reports more revenue growth

Last updated: 09:21 13 Nov 2015 EST, First published: 04:21 13 Nov 2015 EST

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Underlying earnings, or EBITDA, for the three months were $856,000 in the third quarter compared to a loss of $111,000 in the same quarter of 2014.

The growth of payments services specialist JetPay (NASDAQ:JTPY) continues apace as the group posted a 33% increase in quarterly revenues.

Notably, revenues within the payment processing business increased in the third quarter to end September 51.3% to US$2.4 million compared to the same period in 2014 and was up 54.7%, to US$21.61 million in the first nine months  compared to the first nine months of last year.

Overall, revenue added 33.3% to $10.31 million for the third quarter against  $7.74 million for the same period in 2014.

Underlying earnings, or EBITDA, for the three months were $856,000 in the third quarter compared to a loss of $111,000 in the same quarter of 2014.

Bipin C. Shah, chairman and chief executive, said: "With four consecutive quarters of double-digit revenue growth, JetPay is well on its way to delivering the consistent revenue and EBITDA increases expected by our shareholders.

"Although we still have work to do to ensure consistent growth and can expect some peaks and valleys, we are pleased to see the favorable financial results our acquisition of ACI and ongoing investments in sales and technology have delivered.

"Our focus continues to be on maintaining our strength in the Card-Not-Present market and investing in technology to continue to deliver innovative products and services to the marketplace such as the recent launch of new products like JetPay Unlimited Processing and our Affordable Care Act Services.

"Our continued investment in management strength like the addition of Thomas Tesmer allows us to build a company that can achieve extraordinary growth and returns for our shareholders."

JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs for businesses throughout the USA.

On Nasdaq, JetPay closed 1.05% higher yesterday at US$2.87.

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