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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 THIRD QUARTER 2010 FINANCIAL RESULTS
–
Achieves 12th
Straight Quarter of Positive EBITDA –
–
Conference Call to be held November 12, 2010 at 11:00 a.m. EST –
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:
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Net
sales for third quarter 2010 were $6.9 million compared to
$8.0 million in the third quarter of
2009
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Operating
income for the third quarter 2010 was $647,000 compared to
$1.1 million in the third quarter of
2009
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Cost
of sales improved to $4.0 million from $4.1 million in the third
quarter of 2009
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Selling,
general and administrative expenses improved to $2.3 million from
$2.8 million in the third quarter of
2009
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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
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Adjusted
EBITDA was $1.2 million compared with $1.7 million in the third
quarter 2009
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Transaction-based
sales were $19.7 million for the quarter compared with
$21.8 million in the corresponding period in
2009
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Average
gross sale per withdrawal transaction was $2.44 for the quarter compared
with $2.47 a year ago
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Average
commission per withdrawal transaction for the third quarter was $1.77
compared with $1.73 during last year's comparable
period
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Average
net sale per withdrawal was $0.67 compared to $0.74 a year
ago
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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
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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.
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
