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Exhibit
99.1
Company
Contact:
Richard
Stern, President & CEO
856-414-9100
Investor
Contact:
Porter,
LeVay & Rose, Inc.
Linda
Decker, Vice President
212-564-4700
ACCESS
TO MONEY, INC. REPORTS FIRST QUARTER 2010 FINANCIAL RESULTS
–
Conference Call to Be Held May 14, 2010 at 11:00 a.m. EDT –
CHERRY HILL, NJ, May 13, 2010
– Access to Money, Inc. (OTC BB: AEMI), one of the largest providers and
non-bank operators of ATMs in the United States, reports its financial results
for the first quarter ended March 31, 2010.
Highlights
for the First Quarter 2010:
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·
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Net
sales for first quarter 2010 were $7.6 million compared to $7.3 million in
the first quarter of 2009
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·
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Operating
income for first quarter 2010 was $728,000 compared to $847,000 in the
first quarter of 2009
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·
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Net
loss for first quarter 2010 was $716,000, or $0.03 per share, compared
with a net loss of $597,000 or $0.03 per diluted share in the first
quarter of 2009
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·
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Adjusted
EBITDA was $1.3 million compared with $1.3 million in the first quarter
2009
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·
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Transaction-based
sales were $20.2 million for the quarter compared with $20.8 million for
last year’s first quarter
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·
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Average
gross sale per withdrawal transaction was $2.46 for the quarter compared
with $2.39 a year ago
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·
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Average
commission per withdrawal transaction for the first quarter was $1.78
compared with $1.72
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·
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Average
net sale per withdrawal was $0.68 compared to $0.67 a year
ago
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Average
number of transacting machines was 10,983 compared with 11,425 in the
year-ago quarter
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·
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Final
payment of note payable to Notemachine was made on March 1, 2010,
providing approximately $120,000 per month of free cash flow going
forward
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Richard
Stern, President and CEO of Access to Money said, "We continued to display
strong results, posting another solid quarter of positive Adjusted EBITDA and
operating profits. This was especially encouraging given the adverse
winter weather conditions that affected much of the Eastern portion of the
country, and the negative impact caused by one of our armored car providers
which was forced out of business due to alleged illegal
activities. The effect of this caused approximately 365 ATMs to be
out of service for several weeks during the quarter. The reduction in
transacting ATM numbers was the result of our selective removal of lower
performing, unprofitable ATMs and normal attrition."
The following information was filed by Access To Money, Inc. (AEMI) on Friday, May 14, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Access To Money, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Access To Money, Inc..
AEMI Quarterly Reports
- 10-Q Quarterly Report August 2011
- 10-Q Quarterly Report May 2011
- 10-Q Quarterly Report November 2010
-
10-Q Quarterly Report August 2010
- 10-Q Quarterly Report May 2010
