STRATEGIC PARTNERS
August 1, 2002
VANCOUVER, BRITISH COLUMBIA -- Datawest Solutions Inc. (TSX: DS - News), reported a loss of $303.384, or 2 cents a share, on revenues of $11.7 million for the second quarter ended June 30, an improvement from a loss of $1.4 million, or 6 cents a share, on revenues of $10.6 million for the year-earlier quarter.
Revenues for the first six months of this year were $22.9 million, a $3 million or 15 percent increase over the first six months of 2001.
The company's Payment Solutions Group increased its transaction processing revenues by 16 percent in the second quarter compared to the first quarter. The group continued to increase the number of devices on the company's network by adding 625 ATM and 618 POS devices during the quarter, totaling 6,730 ATMs and 1,774 POS devices under management at quarter end.
Darryl J. Yea, Datawest chairman and chief executive officer, said the company also expects to close international sales of its proprietary payment-related software applications in subsequent quarters.
On July 9, Datawest said it closed a private placement equity financing consisting of 3,125,000 units of stock for total proceeds of $5 million.
