Planet Payment

Orbit rises above ‘issues,’ but Lifetime suffers 3Q loss

  ORBIT INTERNATIONAL CORP. Headquarters: Hauppauge Industry: Capital goods OTC: ORBT Reporting Date: Nov. 9, 2017 Reporting Quarter: 3Q FY2017 Quarter Ended: Sept. 30, 2017 Numbers: Net sales were reported as $5.00 million, down 8.8 percent from the $5.48 million reported for 3Q FY2016. But year-over-year reported net income rose – from $455,000 (11 cents per diluted share) to $699,000 (19 cents per diluted share) – and earnings before EBITDA held virtually steady ($507,000 and…


Slightly off, Planet Payment comes back to Earth

By GREGORY ZELLER // Planet Payment’s first quarter fell just short of analyst expectations – but the company is still on course for what would be a record-setting year. Reporting Tuesday on the results of the first quarter of its 2017 fiscal year, which ended March 31, the Long Beach-based provider of international payment, transaction-processing and currency-processing services (Nasdaq: PLPM) noted not-insignificant year-over-year drops in quarterly revenues and income. Despite the setback, company officials reaffirmed…


Bottom line shines at Planet Payment

By GREGORY ZELLER // It was an up quarter to end an up year at Planet Payment Inc. Reporting Wednesday on the fourth quarter of its 2016 fiscal year, which ended Dec. 31, the Long Beach-based provider of international payment, transaction-processing and currency-processing services (Nasdaq: PLPM) noted a slight dip in year-over-year quarterly revenues – to $13.9 million, down from $15.4 million in 4Q2015 – but skyrocketing net income, which rose from $6.7 million in…


For co-working ‘Bridge,’ Harrison Street works

By GREGORY ZELLER // For Long Beach-based co-working facilitator Bridgeworks LLC, the most logical place for its first expansion facility was, naturally, Long Beach. The idea is more about expanding the brand’s scope, according to founder Graham Beck, and less about expanding its physical footprint – though it’s partly about that, too, with the company purposely selecting a neighboring venue to create “a campus-type situation,” Beck noted. But the biggest reason Bridgeworks has renovated and…


Planet Payment rises via Your Currency rollout

Year-over-year gains in total revenue and net income marked a strong first quarter for Planet Payment. The Long Beach-based provider of international payment, transaction-processing and currency-processing services reported earnings of $1.8 million for the quarter ended March 31, leading to adjusted earnings-per-share of 3 cents. Total revenue in the first quarter was $13.7 million, the company said Wednesday, a 13 percent increase over reported revenues in 1Q 2015. Quarterly net income also rose year-over-year, from…


In Long Beach, a place for startups to make waves

By GREGORY ZELLER // Graham Beck is flexible. Like his father, Planet Payment founder Phillip Beck, the young entrepreneur has an innate ability to go with the flow. This at least partially explains an unlikely career path that’s led from Syracuse University (BS, biology, 2014) to the mobile-app business to his current venture, an enterprise that both capitalizes on and caters to Long Island’s burgeoning startup ecosystem. But startups are only part of the story…