Billing Services Group Limited reported audited consolidated earnings results for the full year ended December 31, 2014. For the year, operating revenue was $42,429,000 against $53,898,000 a year ago. The $11.5 million decrease reflects lower transaction volumes across all clearing, settlement and customer service activities provided for landline service providers, partially offset by higher managed service fees from BSG Wireless' offerings. Operating profit was $5,568,000 against operating loss of $8,400,000 a year ago. Income before income taxes was $2,862,000 against loss before income taxes of $9,549,000 a year ago. Net income was $2,084,000 against net loss of $6,177,000 a year ago. Net cash provided by operating activities was $3,942,000 against $13,504,000 a year ago. Net cash provided was principally attributable to $2.1 million of net income, $3.2 million of depreciation and amortization, a $1.2 million increase in third-party payables, a $0.9 million decrease in trade accounts receivable and a $0.5 million provision for deferred taxes, offset by a $2.4 million decrease in trade accounts payable and a $1.7 million net increase in income taxes receivable. Purchases of property, equipment and software were $898,000 against $1,148,000 a year ago. EBITDA was $8.8 million against $12.4 million a year ago. Net income per basic and diluted share was $0.01 against net loss per basic and diluted share of $0.02 a year ago. Debt at end of period was $6.3 million against $16.0 million a year ago. During 2014, the Company invested $0.9 million in capital expenditures, primarily for capitalized software development costs.  In 2013, capital expenditures totaled $1.1 million.

For the year ending December 31, 2015, the company expects revenue to be within a range of $37.0 million to $39.0 million and EBITDA to be within a range of $6.5 million to $7.0 million. The company expects that revenue and EBITDA in 2015 will continue to be affected by the secular decline in the volume of billable long distance and operator service calls initiated on landline phones, partially offset by higher revenue and EBITDA from services to the wireless sector. The company is confident that the bank debt will be fully retired in 2015.