1Q '03 profits down for ATM operator Global Axcess

1Q '03 profits down for ATM operator Global Axcess
Tags: Distributors / ISO / IAD, Public Companies
May 27, 2003

PONTE VEDRA BEACH, Fla. -- ATM operator Global Axcess Corp. (BULLETIN BOARD: GLXS), which also provides processing, services and proprietary ATM management software, reported revenues of $2.4 million and a net loss of $76,863 for 2003's first quarter, down from revenues of $2.7 million and a net loss of $41,049 for the same period in 2002.

Chief Financial Officer David Surette said in a news release that while the company experienced improved margins from the previous year, certain one-time items offset the improvements. "We are looking at a clearer path for profit in 2003," he said.