News
GAXC reports net increase that more than doubles last year's 3Q results
November 5, 2008
JACKSONVILLE, Fla. — Global Axcess Corp. reported revenue from continuing operations of more than $5.6 million for the third quarter of the year, which ended Sept. 30, a 2 percent increase from the $5.5 million reported during the third quarter last year.
The company attributes the revenue increase to increases in surcharge/convenience fees applied to select ATMs during the first quarter of the year. Net income for the quarter came in at $276,800, 1 cent per share, more than double the net income of $96,200 reported a year ago. For the first nine months of the year, income from continuing operations jumped from $193,300 in 2007 to $839,300 in 2008. Excluding $100,000 in bad debt recovery income in 2007, net income for the nine months would have increased $746,000 year over year. "We are pleased that third quarter results resulted in net income of over $276,000," said George McQuain, GAXC's chief executive. "We remain highly focused on continuing to deliver an unbroken sequence of profitable quarters."
Related Media
Subscribe
Get the latest news and resources from ATM Marketplace.
Recent Posts
ParaScript intros verification solution for checks
Nymeo Federal Credit Union wins recognition as 1 of the best workplaces in Maryland
SEC accuses former ATM businessman Daryl Heller of funneling $185M from investors
Fifth Third named as top veteran friendly employer
DC AG sues Bitcoin ATM operator Athena Bitcoin for allegedly exploiting scam victims
