News

KingTeller technology reports 90% earnings increase in 2011

February 17, 2012

Guangzhou KingTeller Technology, a maker and distributor of ATMs and China's largest ATM ISO, posted a 90 percent year-on-year rise in earnings for 2011, an overall increase of 58 percent, said a news article at capitalvue.com.

In a company filing, Kingteller reported that it benefited from a 56 percent increase in ATM sales, while revenue from its ATM leasing business rose 152 percent.

The company used proceeds from its initial public offering in 2007 and from a fundraising exercise in 2009 to expand its network of ATMs. However, the return on this investment was not significant with sales rising just 3.42 percent year-over-year.

Kingteller used internal funds to expand production capacity at end February 2011, according to the filing.

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