Electronic Clearing House Reports $1.45-Million Loss
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Electronic Clearing House Inc., an Agoura Hills company that provides check and credit card clearing services, said its loss widened to $1.45 million in the fiscal year that ended Sept. 30 from $592,000 a year earlier. Revenues rose 9% to $9 million from $8.23 million a year earlier.
The loss was due mainly to a onetime charge of $406,000 not related to operations, as well as to increased selling expenses, the company said.
The number of merchants served by Electronic Clearing House has increased 28% since February, when the company reactivated its marketing program, said Don Anderson, the company’s president.
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