Veritec, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2019
February 04, 2020 at 03:18 am IST
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Veritec, Inc. announced earnings results for the second quarter ended December 31, 2019. For the second quarter, the company announced total revenue was USD 72,004 compared to USD 82,375 a year ago. Operating loss was USD 127,196 compared to USD 108,313 a year ago. Net loss was USD 214,138 compared to USD 182,597 a year ago. Basic loss per share was USD 0.01 compared to Basic EPS of USD 0 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to Basic EPS - Continuing Operations of USD 0 a year ago. For the half year, total revenue was USD 226,047 compared to USD 153,106 a year ago. Operating loss was USD 184,045 compared to USD 278,666 a year ago. Net loss was USD 184,081 compared to USD 425,143 a year ago. Basic eps was USD 0 compared to basic loss per share of USD 0.01 a year ago.
Veritec, Inc. is engaged in the development, sales, and licensing of products and providing services related to its mobile banking solutions. It provides back-end cardholder transaction processing services for Visa-branded card programs on behalf of its sponsoring bank. Its Mobile Banking Technology is used to offer Prepaid Card Programs to sponsor banks and approved applicants/cardholders. Its products and solutions include MTC Debit Card - Visa Prepaid Card Programs, blinx ON-OFF Debit Card - Visa Prepaid Card Programs, Custom Branded Debit Card Programs and blinxPay Mobile Wallet App. The blinx ON-OFF card is based on the Mobile Banking Technology platform and offers the same features and functions as the MTC branded card but with different pricing for bank-sponsored cards. The blinxPay is a secure payment processing system and mobile app that enables customers to make purchases. Its Mobile Banking Technology resides within a Payment Card Industry compliant data processing center.
VERITEC, INC. 
