MyECheck Inc., the El Dorado Hills-based electronic transaction processor and provider of alternative payment solutions, reported a net loss of $146,068 in the third quarter ended Sept. 30, compared with a loss of $121,087 in the same period in 2008.
Through the first nine months of the year, the company lost $681,460, compared with $596,262 in the year-ago period.
MyECheck revenue increased for the seventh consecutive quarter – $238,068 compared with $156,174 in the third quarter last year. Through nine months, revenue was $627,434, a 93 percent spike from $325,892 in January- September 2008.
“MyECheck continues to grow during difficult global economic conditions, and we now feel that our services and partnerships will begin to develop at a faster pace as the economy turns for the better,” said Edward Starrs, company CEO.