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US Dataworks, Inc. (UDWK) Reports Profit in First Quarter of 2010

US Dataworks, Inc. reported net income of $85,379 or $0.00 per share, in the first quarter that ended 3/31/2010. The company reported a net loss of $181,221, or $0.01 per share, in the corresponding quarter of 2009.

Revenue increased on a year over year basis in the first quarter of 2010 to $2.1 million from the $1.8 million reported in the first quarter of 2009. The segment showing the biggest improvement was the software licensing business.

Charles E. Ramey, the CEO of US Dataworks, Inc. sounded upbeat about the upcoming year for the company. “We entered fiscal 2010 as a year of transition and began to benefit from certain initiatives toward the end the fiscal year, which concluded on a very positive note, and we anticipate that fiscal 2011 will build upon that momentum,” said Ramey.

US Dataworks, Inc. recently introduced a new product called ClearHistory. The product provides long-term storage of payment and other transactions. During the first quarter of 2010, US Dataworks, Inc. reported strong inroads in getting its customers to buy ClearHistory.

US Dataworks, Inc. reported cash and cash equivalents of $444,000 at March 31, 2010, and total debt of approximately $3 million.

For more information on the company, go to

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