Electronic Clearing House, Inc., (ECHO) has reported first-quarter net earnings of $62,000, a 24 percent increase over the first quarter of 1997. Overall, the increase reflects revenue growth of 6 percent from bankcard processing and transactions, and a 53 percent decrease in revenue from terminal sales and leases.
"In addition to our profitable operations during the first quarter of our fiscal year, ECHO received an order for 3,100 terminals from U-Haul." stated Joel M. Barry, chief executive officer of ECHO.
Electronic Clearing House provides credit card processing, check guarantee, and Internet services to more than 8,000 retail merchants, as well as inventory tracking services to thousands of U-Haul dealers across the nation.
Through a subsidiary, Computer Based Controls, ECHO designs, develops, and manufactures software and point-of-sale hardware for credit card terminals, ATMs, bill payments, and inventory-tracking.
For more information contact ECHO at (818) 706-8999.
