LML Payment Systems Inc. (NASDAQ: LMLP) Posts 118% Increase in Q1 Revenues
LML Payment Systems Inc. (Nasdaq; LMLP) provides financial payment solutions for e-commerce and traditional businesses. The company today announced reports for the three months ended June 30, 2008. LML posted a 118 percent increase in first-quarter revenues, at $3.2 million, up from $1.5 million for the same period last year, and reported it added 324 new customers for the quarter. In the press release, Patrick H. Gaines, president and CEO of LML attributed the positive results to its Transaction Payment Processing segment, which attributed to $1.9 million in revenue, or 62 percent of overall revenues, while producing gross margins of…