? Gross profit dollars up 15%;
? GAAP net income of
change in fair value of warrants), from a GAAP net loss of
of proxy contest related expenses); and,
Revenues for the quarter ended
June 30, 2013were $9,684,842, consisting of $8,172,243of license and transactions fees and $1,512,599of equipment sales, compared to $7,902,846for the quarter ended June 30, 2012, consisting of $6,382,575of license and transaction fees and $1,520,271of equipment sales. The increase in total revenue of $1,781,996, or 23%, was primarily due to an increase in license and transaction fees of $1,789,668, or 28%, from the prior year quarter, offset by a decrease in equipment sales of $7,672or 1%, from the same period in the prior year.
Revenue from license and transaction fees, which represented 84% of total revenue for the quarter ended
? 18,000 net new connections to the ePort Connect service, compared to 16,000
net for the fourth quarter of Fiscal 2012; ? Increases in the number of small-ticket, credit/debit transactions and dollars handled in the fourth quarter of 33% each compared to the same period a year ago; and
? 525 more ePort Connect customers added in the fourth quarter fiscal 2013,
17% more than the prior year fourth quarter, for 5,050 customers at
2013. The increase in license and transaction fees was due to the growth in ePort Connect service fees and transaction dollars handled from the increased number of connections to our ePort Connect service. As of
June 30, 2013, the Company had approximately 214,000 connections to the ePort Connect service compared to approximately 164,000 connections to the ePort Connect service as of June 30, 2012. During the quarter ended June 30, 2013, the Company added approximately 18,000 net connections to our network as compared to approximately 16,000 net connections during the quarter ended June 30, 2012, an increase of approximately 13%. Connections added as part of our JumpStart program represented approximately 45% and 75% of net connections added during the fourth quarter of 2013 and 2012, respectively. Pursuant to its agreements with customers, in addition to ePort Connect service fees, the Company earns transaction processing fees equal to a percentage of the dollar volume processed by the Company. During the quarter ended June 30, 2013, the Company processed approximately 36 million transactions totaling approximately $63 millioncompared to approximately 27 million transactions totaling approximately $47 millionduring the quarter ended June 30, 2012, an increase of approximately 33% in both the number of transactions and the value of transactions processed. New customers added to our ePort® Connect service during the quarter ended June 30, 2013totaled 525, bringing the total number of such customers to approximately 5,050 as of June 30, 2013. The Company added approximately 450 new customers in the quarter ended June 30, 2012. By comparison, the Company had approximately 3,300 customers as of June 30, 2012, representing a 53% increase during the past twelve months. We count a customer as a new customer upon the signing of their ePort Connect service agreement. When a reseller sells our ePort, we count a customer as a new customer upon the signing of the applicable services agreement with the customer.