STRATEGIC PARTNERS
May 9, 2002
PORTLAND, Ore -- TRM Corporation reported a loss of $337,000 and 10 cents per common share for the quarter ended March 31, 2002, compared to a loss of $788,000 and 16 cents per common share a year ago.
Revenue for the quarter increased to $20.6 million, up 9 percent from $18.9 million in the first quarter of 2001.
According to a news release, CopyCenter revenue remains the largest revenue stream at $14.2 million for the quarter compared to $14.9 million in the prior year. TRM has 29,163 CopyCenter locations at March 31, 2002, reflecting a decrease of 3,078 locations due to the sale of the company's French operations in the fourth quarter of 2001 and elimination of low volume locations in other markets.
ATM revenue increased to $5.7 million compared to $3.7 million a year ago. The company's installed based of ATMs increased by 708 machines from the same period in 2001, with 2,448 ATMs installed in the UK and United States markets in 2002's first quarter. According to a news release, TRM continues to foresee good growth in its ATM unit, particularly in the UK market.
e-Commerce contributed $600,000 of revenue for the quarter. TRM in February sold remaining interest in the e-Commerce unit to ATM manufacturer NCR.
