Electronics payments firm Dexit narrows Q1 loss to $2.3M from $2.9M

Friday 6 May 2005 00:04 CET | News

Dexit Inc., a growing electronic payment service for small retail sales, has reduced its first-quarter loss to $2.3 million, from $2.9 million a year ago.

The loss for the three-month period ended March 31 amounted to 23 cents a share, compared with 49 cents per share a year earlier, the Toronto-based firm reported Thursday. Revenue rose to $787,702 from $686,725 in 2004s fourth quarter month and just $3,371 a year earlier. Under a five-year merchant licence deal signed with Bell Canada last year, the company earned licence fees of $500,000 in the quarter. Dexit also received $3 million for the second-year licence fee, to be included as revenue in the year started April 1. Dexit has entered the stage of our business development where we are able to accelerate our growth by building alliances with the right strategic partners - partners like Bell Canada and Smart Systems Technologies, CEO Renah Persofsky said in a release. Through these alliances we are adding significant depth to our market penetration capabilities as well as unique features and added functionality to our product offering.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce