Planet Payment reports higher earnings

Planet Payment, a payment and currency processing provider in Long Beach, reported higher sales and earnings Thursday due to higher transaction volumes.

Sales at the company was $12.2 million for the last quarter of 2013, compared to $11.9 million in the year-ago period. Quarterly profit was $200,000, up from a loss of  $100,000 in the 2012 quarter.

"I believe our achievements in 2013, that are in various stages of implementation and roll-out, will validate that Planet Payment is on the right path," said chief executive Carl Williams in a news release.