FlexShopper Reports Q1 2016 Results And 170% Revenue Growth

In the second quarter of 2014, FlexShopper successfully sold its Anchor Funding Services business. Income from discontinued operations was $0 and $74,700 for the three months ended March 31, 2016 and 2015, respectively. This income combined with the net losses from continuing operations resulted in net losses of $2,613,703 ($.05 per share) and $1,393,723 ($.04 per share) for the three months ended March 31, 2016 and 2015, respectively.  For additional information related to FlexShopper’s first quarter results, please see FlexShopper’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 filed with the Securities and Exchange Commission on May 16, 2016.

Management Commentary

Brad Bernstein, CEO, stated, “We are pleased to start 2016 with significant first quarter growth in our ecommerce business, primarily driven by increased traffic to our FlexShopper.com marketplace. We believe FlexShopper is well positioned with our direct to consumer and retail partner channels to continue to take advantage of the significant opportunity in online lease-to-own.  In addition to hiring a Chief Risk Officer in the first quarter, we continue to invest in our risk and technology human resources for continued optimization of our order processing, marketing and risk strategies to enhance profitability… Read more


MORE breaking Point of Sale News:

  1. Billy Dec Announced as Keynote Speaker for BAR at ​#​NRAShow
  2. #Shoptalk Retail Orders Using Promotions Up 86 Percent YOY in March 2016
  3. Grupo M Apparel Manufacturer Selects NGC’s Fashion PLM Software
  4. Datacap solves US EMV for Mobile POS with TranCloud
  5. Convey Launches New Intelligent Fulfillment Platform at ​#​Shoptalk
  6. RetailNext, Lightspeed Partner to Deliver Integrated Solutions
  7. TrueCommerce Announces eStore Integration
  8. CAM Commerce Solutions Releases RetailSTAR 10.1
  9. Dallas Rapid Transit Uses PayNearMe to Reduce Cash Handling
  10. Sonata Software to Showcase Solutions at the SAP’s ’SapphireNow’
  11. Original Review Launches Customer Insight Platform for Restaurants
  12. Spendgo to Show Integration with Epson #Shoptalk
  13. Verifone Certifies with First Data to Provide Gas Stations & C-Stores Fast Path to EMV
  14. BIXOLON Partners with ERPLY, a Leading mPOS Firm