Net Income Reaches $5M at Paymentech
Payment processing company Paymentech Inc., Dallas, reported this week that its net income for the fourth quarter ended June 30 was $5 million, or 14 cents per share, compared to $3.9 million, or 11 cents per share, during the same quarter last year.Citing productivity improvements, Paymentech said it increased its pretax margin before depreciation, amortization and nonrecurring items to 29 percent during the fourth quarter of 1998 compared to 26 percent during the same quarter a year ago.
During the June-1998 quarter, it processed $12.7 billion in sales volume and 519 million bank card and third-party authorization transactions.
