LAS VEGAS - Global Cash Access Holdings Inc.'s revenue jumped from $112.4 million during the second quarter of 2005 to $134 million during the second quarter of 2006, the company announced last week. Adjusted net income also saw an increase, from $6.6 million, or 15 cents per share, last year to $8.6 million, 16 cents per share, in 2Q '06. (Before adjustments, which included litigation-settlement costs, quarterly net income was $6.3 million, or 8 cents per share, down from $6.6 million, 9 cents per share, last year.)
"The second quarter of 2006 showed growth that was even better than we saw in the first quarter," said Kirk Sanford, GCA's president and chief executive. "At the same time, we made significant progress on our new initiatives. Our redemption kiosk platform is getting good traction. Our EDITH (Electronic Debit Interactive Terminal Housing) kiosk was approved by GLI, and we launched our exciting new Arriva Card program. All these initiatives should continue to distinguish GCA as the product leader in cash access for gaming enterprises."
ATM transaction volume jumped 15.4 percent during the quarter, from 14.7 million in 2Q '05 to 17 million. ATM revenue increased 20.7 percent, from $45.2 million last year to $54.6 million. Average revenue per transaction also increased 4.9 percent, from $3.07 to $3.22.
Check-services revenue hit $7.5 million, an increase of 10.8 percent from last year. And Central Credit and other revenue fell 7.3 percent, from $2.6 million to $2.4 million.
