News

Global Axcess reports record income, with 36% revenue increase in '04

March 30, 2005

PONTE VEDRA, Fla. - Global Axcess Corp., anindependent electronic financial transaction processing company,reported record financial results for the fiscal year ended Dec. 31, 2004, according to a news release.

The company reported net income of $1.13 million on $13.9 million in revenue for the year ended Dec. 31

The company said the sharp increase in revenue was tied to the acquisition of three ATM portfolios encompassing 1,670 ATMs. As a result of the acquisitions, the ATMs Made Easy program, launched in 1Q '04, added 286 new merchant customers; and participation among financial institutions in the company's branded cash program jumped 110 percent, from 352 sites in FY '03 to more than 583 sites in '04. Sixty-six FIs now participate in the program.

"2004 has been a breakout year for Global Axcess," said Michael Dodak, the company's chairman and chief executive. "We achieved several key milestones over the course of the year, while executing two new programs that have already started to show promising results."

Dodak said he expects the ATMs Made Easy program to pick up momentum, and he has high expectations for the newly launched Easy Green Cash Card solution - a prepaid debit card program kicked off in 2004.

"We have added several new customers to our leading-edge financial services programs, fortifying our core business," Dodak said. "We have made major investments in all of our business segments with an eye toward growth in 2005 and beyond. The management of GLXS feels more confident than ever regarding the future prospects for continued growth and earnings by the company."