Increase in Adjusted Net Income
The group's adjusted net income increased by 18% to $2.3 million compared to $2 million in the prior year, with adjusted diluted earnings per share up 24%.
Improved Operating Income
Operating income increased by 16% to $5.1 million compared to $4.4 million in the previous year, despite a decline in revenues.
Growth in Payments Product Line
Payments revenue increased by 5%, supported by a 13% increase in trading volume activity from existing customers and new customer onboarding.
Successful Expansion in Louisville
The expansion in Louisville has been successful, improving processing times and efficiency through automation and strategic location benefits.