Global Axcess Q3 numbers down from Q2, up YOY

 
Nov. 19, 2012

IAD Global Axcess Corp. has announced financial results for its third quarter, which ended Sept. 30, 2012. Numbers for the Jacksonville, Fla.-based company were up from the same period in 2011, but down from the previous quarter in 2012.

In the ATM business line, third quarter 2012 surcharge transactions decreased 0.9 percent compared with surcharge transactions for the second quarter of 2012, but increased by 7.0 percent compared with surcharge transactions for the third quarter of 2011.

Third quarter 2012 ATM services revenue decreased by 1.6 percent over revenue for the second quarter of 2012, but increased by 9.0 percent over revenue for the third quarter of 2011.

Third quarter 2012 ATM services gross profit was $1.9 million compared with $2.1 million in the second quarter of 2012 and $2.7 million for the third quarter of 2011.

Third quarter 2012 ATM services adjusted EBITDA was $1.0 million compared to $1.1 million for the second quarter of 2012 and $1.7 million for the third quarter of 2011.

In the company’s DVD business line, the numbers were down significantly across the board. Nevertheless, CEO Kevin L. Reager expressed optimism about growth prospects.

"Global Axcess ATM and DVD businesses remain strong and we are encouraged by recent sales wins in both the ATM and DVD segments," said Reager. "With a restructured sales team, new sales strategy, significant operational improvements and SG&A cost savings that will be realized over the next six months, we look forward to solid growth in 2013 and beyond."

The company recently signed an agreement to deploy 120 ATMs for an existing grocery chain customer, as well as an agreement with a new grocery chain customer to deploy 32 DVD kiosks.

For more on this topic, visit the distributor/ISO/IAD research center.


Topics: Distributors / ISO / IAD , Public Companies


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