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Access To Money, Inc. (AEMI) SEC Filing 10-Q Quarterly report for the period ending Wednesday, June 30, 2010

Access To Money, Inc.

CIK: 749254 Ticker: AEMI
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:
 
·
Net sales for first quarter 2010 were $7.6 million compared to $7.3 million in the first quarter of 2009
 
·
Operating income for first quarter 2010 was $728,000 compared to $847,000 in the first quarter of 2009
 
·
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
 
·
Adjusted EBITDA was $1.3 million compared with $1.3 million in the first quarter 2009
 
·
Transaction-based sales were $20.2 million for the quarter compared with $20.8 million for last year’s first quarter
 
·
Average gross sale per withdrawal transaction was $2.46 for the quarter compared with $2.39 a year ago
 
·
Average commission per withdrawal transaction for the first quarter was $1.78 compared with $1.72
 
·
Average net sale per withdrawal was $0.68 compared to $0.67 a year ago
 
·
Average number of transacting machines was 10,983 compared with 11,425 in the year-ago quarter
 
·
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
 
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.

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Access To Money, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:

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SEC Filing Tools
Ticker: AEMI
CIK: 749254
Form Type: 10-Q Quarterly Report
Accession Number: 0001144204-10-043185
Submitted to the SEC: Thu Aug 12 2010 4:04:59 PM EST
Accepted by the SEC: Thu Aug 12 2010
Period: Wednesday, June 30, 2010
Industry: Personal Services

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