STRATEGIC PARTNERS
August 15, 2002
PONTE VEDRA BEACH, Fla. -- Global Axcess Corp. (OTC Bulletin Board: GLXS), which through its wholly owned subsidiaries owns and operates ATMs and provides ATM processing, services and proprietary ATM management software, reported net income of $48,012 on revenues of $3,022,644 for the second quarter ended June 30, versus a net loss of $978,087 on revenues of $432,325 for the year-earlier quarter.
Much like larger companies such as eFunds, Global Axcess says it is seeking to consolidate other ATM companies through acquisitions, joint ventures and other business arrangements, because it believes that it can achieve significant cost advantages and other operational efficiencies with this strategy.
Its wholly owned subsidiary, Nationwide Money Services (NMS), provides turnkey ATM management solutions that include cash, project and account management services. NMS' wholly owned subsidiary, EFT Integration, provides traditional transaction processing and terminal driving and is developing alternative processing solutions for expanding ATM functionality through Web-based products and services.
