GAXC reports net increase of 10% for 1Q

GAXC reports net increase of 10% for 1Q
Tags: Bank / Credit Union, North America, Public Companies, Trends / Statistics
April 30, 2008

JACKSONVILLE, Fla. — Global Axcess Corp., an independent provider of ATM solutions, has announced record profits for the first quarter of this year.

The company reported net income of approximately $112,200, 1 cent per share, up roughly 10 percent from the $101,200, 1 cent per share, it netted during 1Q of last year.

"We continue to execute our business plan to grow revenue and margins, while controlling our cost structures," said Michel J. Loiacono, GAXC's chief financial officer. "The first quarter of 2008 showed positive strides in our efforts to increase gross profit in dollars and on a percentage of revenue basis."