News

Cash Systems posts record Q3 revenues, profits and growth

November 12, 2002

MINNEAPOLIS -- Cash Systems, Inc. (OTC Bulletin Board: CSHS) reported the strongest quarterly results in company history.

According to a release, revenue for the third quarter ending Sept. 30, 2002 rose 76 percent to $4.3 million, compared to $2.5 million in the same period last year. The increase marked the company's twelfth-straight quarter of double-digit revenue growth.

For the first nine months of 2002, revenue increased 88 percent over the same period last year, rising to a record $10.4 million, versus $5.54 million in the same period in 2001.

Cash Systems' net profit for the period was $169,328 (less than a cent and a half per share).

"The third quarter contained many milestones, most importantly the achievement of net income," said Craig Potts, Cash Systems' chief executive officer. "With the announcements of recent contracts, including one of our largest to date, Grand Casino Coushatta, the company expects to generate consistent operating profit at increasing levels."