STRATEGIC PARTNERS
August 14, 2002
PORTLAND, Ore. -- TRM Corporation (Nasdaq: TRMM) reported a net loss of $404,000, or 11 cents a share, for 2002's second quarter, compared to a net loss of $379,000, or 11 cents a share, for the same quarter in 2001.
For the six months ending June 30, 2002, TRM reported a net loss of $741,000, or 21 cents a share, compared to a net loss of $1.2 million or 27 cents a share, for the same period of 2001.
Revenue for the second quarter 2002 grew to $21.6 million, an increase of $1.1 million from second quarter 2001, largely due to growth in the company's ATM network, which produced revenue of $6.7 million, up $2.2 million from the same period a year ago. The company added 832 ATMs from second quarter 2001, for a total of 2,679 revenue machines throughout the UK and U.S.
The company's ATM division reported a net loss of $893,000, an improvement from a loss of $1.2 million in 2001's corresponding quarter.
Photocopy revenue was $14.3 million, a decline of $1.3 million compared to the prior year. Photocopy locations decreased by 3,370 in the past year, for a total of 28,295 sites, due primarily to the year-end 2001 sale of a majority of the company's French operations and elimination of other lower volume locations.
The photocopy division reported net income of $566,000, down from income of $2.5 million in the year-earlier quarter.
