MyECheck, Inc. (OTCBB: MYEC) recently announced that unaudited revenues for the first two months of the second quarter of 2008 increased over 100% compared to their first quarter’s results. For the month of May 2008, the company’s unaudited revenues increased by over 60% compared to the numbers in April 2008.
The company pointed out that, although there has been an economic downturn in many regards, their latest figures demonstrates a significant change when it comes to online retailing. A recent report by eMarketer estimates that U.S. retail e-commerce sales (excluding travel) will reach as much as $146 billion during this year alone, a 14.3% increase from 2007. It should be noted that the numbers specified in the company’s report are unaudited, and are only based on the financial information that is available to them.
According to Barrington Research, the 16-stock group of electronic transaction processors recorded their second consecutive month of positive price performance with a mean return of 4.47%. Some of the stocks that registered prosperous returns for the month include Western Union at 2.8%, Cardtronics at 18.9%, Heartland Payments at 17.9%, Global Cash at 15.7%, and Fidelity National at 11.7%.
Ed Starrs, CEO of MyECheck, said, “Our growth in this period is unprecedented for the company, and we expect that we will continue to increase our revenues as more of our customers are added.”
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