Soft sales, higher ATM expenses hurt TRM results

Soft sales, higher ATM expenses hurt TRM results
Tags: Bank / Credit Union, Distributors / ISO / IAD
November 20, 2005

Seattle.pi.com: TRM Corp.'s stock fell Tuesday after the company reported weak photocopy sales and higher ATM expenses. Shares fell $5.15, or 43 percent, to $6.84, in afternoon trading. Shares traded as low as $6.70, below the 52-week low of $11.93 set Nov. 14.

"TRM had a very challenging quarter due to a number of negative events and trends that caught some investors by surprise," wrote Sam Ditzion, president and chief executive of Boston-based advisory firm Tremont Capital Group, in an e-mail. "Much of TRM's future success will largely depend on its ability to effectively find, finance, close, and integrate quality acquisitions that boost earnings."