Access To Money, Inc. (AEMI) 10-Q Quarterly Report November 2010

CHERRY HILL, NJ, November 12, 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 third quarter ended September 30, 2010.

Highlights for the Third Quarter 2010:

Net sales for third quarter 2010 were $6.9 million compared to $8.0 million in the third quarter of 2009

Operating income for the third quarter 2010 was $647,000 compared to $1.1 million in the third quarter of 2009

Cost of sales improved to $4.0 million from $4.1 million in the third quarter of 2009

Selling, general and administrative expenses improved to $2.3 million from $2.8 million in the third quarter of 2009

Net loss for the third quarter 2010 was $729,000, or ($0.03) per basic share, compared to a net loss of $2.6 million or ($0.12) per share for the same period 2009. Net loss for the quarter was impacted by a $3.1 million change in the (gain/loss) in warrant value between the periods. Excluding the non-cash (gain/loss) on warrant value and loss on debt extinguishment, the net loss for the third quarter 2010 would have been $421,000 or ($0.02) per basic share

Adjusted EBITDA was $1.2 million compared with $1.7 million in the third quarter 2009

Transaction-based sales were $19.7 million for the quarter compared with $21.8 million in the corresponding period in 2009

Average gross sale per withdrawal transaction was $2.44 for the quarter compared with $2.47 a year ago

Average commission per withdrawal transaction for the third quarter was $1.77 compared with $1.73 during last year's comparable period

Average net sale per withdrawal was $0.67 compared to $0.74 a year ago

Average number of transacting machines at the end of the quarter was 10,747 compared with an average of 11,233 as of September 30, 2009

The following information was filed by Access To Money, Inc. (AEMI) on Friday, November 12, 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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Ticker: AEMI
CIK: 749254
Form Type: 10-Q Quarterly Report
Accession Number: 0001144204-10-059257
Submitted to the SEC: Fri Nov 12 2010 6:44:04 AM EST
Accepted by the SEC: Fri Nov 12 2010
Period: Thursday, September 30, 2010
Industry: Personal Services

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

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