Electronic Clearing’s Loss Shrinks to $176,000
Electronic Clearing House Inc., an Agoura Hills provider of credit-card processing services and products, reported a $176,000 net loss for its fiscal year ended Sept. 30.
A year earlier, the company lost $931,000. The narrower loss in fiscal 1995 came on a 47% increase in revenues, to $14.1 million.
The company said its 1995 results included $327,000 in income from the settlement of a lawsuit with a former processing bank, and $192,000 of non-operating expenses related to real estate investment losses.
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