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US Dataworks Announces Fiscal 2011 Third Quarter Results

HOUSTON Feb. 14, 2011 December 31, 2010

$2.1 million $1.7 million $2.3 million

$224,000 $0.01 $274,000 ($0.01) $74,000 $0.00

Charles E. Ramey

$2.6 billion

Mr. Ramey added, “We have two initial customers live in the on-demand environment for whom we are currently processing more than one million payments per month.  Additionally, our product pipeline is quite robust, and we believe will be able to grow rapidly in fiscal 2012 and beyond.  As we execute on this platform transition to address this huge market opportunity during the coming quarters, we will also be formulating the appropriate metrics to help investors understand how we measure our on-demand progress internally for this new business model.”

Note Regarding the Company’s Restatement of Financials

March 31, 2010 June 30, 2010 June 2010 September 30, 2010 September 2010 March 2010 January 27, 2011

December 31, 2010

Conference Call Information

Tuesday, February 15, 2011 11:00 a.m. Eastern time 10:00 a.m. Central time February 22, 2011

www.usdataworks.com

www.clearingworks.com

About US Dataworks

US Dataworks offers on-demand payment processing services with proven enterprise-class payment, deposit, returns processing, and powerful payment analytic tools.  US Dataworks is a trusted payments provider to utilities, telecommunications providers, content providers, financial institutions and government agencies.

March 31, 2010 December 31, 2010

Contacts:

Randy Frapart, CFO

US Dataworks, Inc.

281-504-8026

Ken Dennard, Managing Partner

Dennard Rupp Gray & Lascar, LLC

[email protected]

713-529-6600

-Tables to Follow-

US DATAWORKS, INC.

QUARTERLY INCOME STATEMENT DATA

For the three months ended December 31, 2010, September 30, 2010 and December 31, 2009

Three months ended

December 31,

2010

September 30,

2010

December 31,

2009

Revenue

Software transactional and subscription revenue

$                  552,233

$                  586,765

$                 514,999

Software licensing revenue

106,864

30,977

Software maintenance revenue

140,662

140,866

208,816

Professional services revenue

1,294,564

977,267

1,512,066

Software resale revenue

52,839

2,147,162

1,704,898

2,266,858

Cost of revenue

699,333

586,266

748,964

Gross profit

1,447,829

1,118,632

1,517,894

Gross profit margin

67.4%

65.6%

67.0%

Operating expenses

Research and development

209,954

252,766

213,994

Sales and marketing

222,186

210,865

220,562

General and administrative

624,465

797,685

739,451

Depreciation and amortization

23,350

46,322

34,811

1,079,955

1,307,638

1,208,818

Income from operations

367,874

(189,006)

309,076

Net operating income margin

17.1%

-11.1%

13.6%

Other income (expense)

Financing expense – related party

(5,181)

(5,181)

(99,648)

Interest expense

(15,553)

43,093

(1,436)

Interest expense – related parties

(123,616)

(123,172)

(134,066)

Other income

134

(144,350)

(85,260)

(235,016)

Income/(loss) before provision for income taxes

223,524

(274,266)

74,060

Net Income/(loss)

$                  223,524

$                (274,266)

$                   74,060

Basic earnings (loss) per share

$                        0.01

$                      (0.01)

$                       0.00

Diluted earnings (loss) per share

$                        0.01

$                     (0.01)

$                       0.00

Basic weighted – average shares outstanding

33,267,580

33,188,907

32,960,100

Diluted weighted average shares outstanding

33,282,261

33,188,907

33,015,500

SOURCE US Dataworks, Inc.

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