4th Quarter X-Charge Applications at Record Levels
October 01 2004 - 7:00AM
PR Newswire (US)
4th Quarter X-Charge Applications at Record Levels FOUNTAIN VALLEY,
Calif., Oct. 1 /PRNewswire-FirstCall/ -- CAM Commerce Solutions,
Inc. (NASDAQ:CADA) announced that the Company set a new record for
the quarter ended September 30, 2004, for the number of new
applications received during the period for X-Charge and the dollar
volume those applications represent. During the quarter the Company
received 225 applications in July, followed by a record 259 in
August and then a new record 370 in September for a total of 854
for the quarter. The increase was 177% from the same quarter in
2003 where the total number of new applications received was 308.
Not all applications submitted by potential customers will result
in live processing accounts, although the Company expects that the
vast majority will. The total dollar volume of the 854 applications
received for the quarter ended September 30, 2004 was $274 million
in estimated annual processing volume. The $274 million in new
processing applications for the quarter was an increase of 171%
over the same period in 2003, which was $101 million. The Company
also set a new single month record in September for the number of
applications received and the processing dollars those applications
represent at 370 applications for $122 million in estimated annual
processing volume. This compared to 94 applications received for
$35 million in estimated processing volume in September of 2003.
Resellers The Company's reseller network set new records for both
the number of applications received and the total dollar volume of
those applications with 500 applications received for $146 million
in projected annual processing volume for the quarter ended
September 30, 2004. The reseller results in the September 30, 2004
quarter represent a 324% increase in the number of applications and
a 462% increase in dollar volume over the same period a year ago
when the reseller network contributed 118 new applications for $26
million in estimated annual processing volume. In the month of
September alone the Company received 238 applications from
resellers for $76 million in estimated annual processing volume.
This dollar volume was double the previous record set one month ago
in August of $38 million. The reseller numbers are included in the
overall company numbers stated above. As of September 30, 2004, the
Company had 114 active resellers, who had at least one live account
processing on X-Charge. "We had another very encouraging quarter
for X-Charge activity," stated Geoff Knapp, CEO of CAM Commerce.
"The month of September was a breakout month where we shattered all
records for new X-Charge applications, exceeding our expectations.
The most important trend we saw was a significant increase in deals
from our reseller channel, and with new reseller opportunities.
While this has been trending up all along, we saw by far our best
growth in reseller activity in September. We have experienced
plateaus in the growth of this business that last a few months,
followed by periods of strong growth. We have also experienced some
seasonal factors in demand. We would expect sign-up rates for new
X-Charge users to slow going into the holiday season, while actual
processing volume and related revenues will rise. Many retailers
are busy during the holiday season and thus less focused on
implementing new technology solutions, while at the same time their
business is up, resulting in the higher processing volume and
related revenues for the Company. The opposite is true for the
summer months. I do expect the overall trend upwards to continue
for the foreseeable future." About X-Charge X-Charge is payment
processing software that is integrated with the Company's point of
sale software, and the software of its resellers. The Company
provides payment processing services for its customers utilizing
X-Charge software and a third party credit card payment processor.
The Company generates revenues based on dollar volume of credit
card transactions processed by its customers and its reseller's
customers using X-Charge. About CAM Commerce Solutions CAM Commerce
Solutions, Inc. provides total commerce solutions for traditional
and web retailers that are based on the Company's open architecture
software products for inventory management, point of sale, sales
transaction processing, accounting, and payment processing. These
solutions often include hardware, installation, training, service,
and payment processing services provided by the Company. You can
visit CAM Commerce Solutions at http://www.camcommerce.com/.
Important Information The statements made in this news release,
including those relating to the expectations of profitability and
economic climates, are forward-looking and are made pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of
1995. Words such as "will," "should," "believe," "expect,"
"anticipate," "outlook," "forecast," "optimistic," "feel,"
"potential," "continue," "intends," "plans," "estimates," "may,"
"seeks," "would," "future," "bright," "projected", and other
similar expressions that predict or indicate future events or
trends, or that are not statements of historical matters, identify
forward-looking statements. Expectations concerning financial
results for future quarters are not actual results and are based
upon preliminary estimates, as well as certain assumptions
management believes to be reasonable at this time. Investors should
not rely upon forward looking statements because they are subject
to a variety of risks, uncertainties, and other factors that could
cause actual results to differ materially from our expectations,
and the company expressly does not undertake any duty to update
forward-looking statements which speak only as of the date of this
news release. The performance of any one month or quarter may not
be indicative of future performance, particularly given prevailing
market and economic uncertainties. In addition to the factors set
forth elsewhere in this release, the economic, competitive,
technological, and other factors identified in CAM Commerce
Solutions' filings with the Securities and Exchange Commission
could affect the forward looking statements contained in this news
release. DATASOURCE: CAM Commerce Solutions, Inc. CONTACT: Mathew
Hayden, President of Hayden Communications, Inc., +1-858-456-4533,
for CAM Commerce Solutions, Inc. Web site:
http://www.camcommerce.com/
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