LML Payment Systems Inc. posted net income of $616,000 for the third quarter, an increase net income of $281,000 in the prior year.
The online payment processing firm reported revenue of $4.7 million for the quarter ended Dec. 31, a 56% increase over $3 million the last year.
“We are pleased with our progress and results,” said Patrick H. Gaines, CEO, in a statement. “These profitable results allowed us to continue to make investments in the growth of our business, and this past quarter we increased spending in product development and sales and marketing by 141% and 37% respectively.”
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