Billing Services Group Limited reported audited consolidated earnings results for the year ended December 31, 2016. For the period, the company reported revenues of $30.2 million against $36.4 million for the same period last year. EBITDA was $5.7 million against $6.4 million for the same period last year. Net income was $10.9 million or $0.04 basic and diluted per share against $8.7 million or $0.03 basic and diluted per share for the same period last year. The $6.2 million revenue decrease reflects lower transaction volumes across all clearing, settlement and customer service activities provided for landline service providers, partially offset by higher managed service fees from BSG Wireless' offerings. Cash used in operating activities was $0.5 million during 2016.

For 2017, The company expects continuation of growth in revenue from services to wireless markets and its direct bill initiative. Given the relatively early stage of the latter product offering, coupled with the strategic review that is underway, The company expects to provide financial performance guidance later in 2017.