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TRM's 2Q shows ATM sales improvement, stable net loss
August 14, 2007
PORTLAND, Ore. - TRM Corp. announced that second quarter ATM sales showed a slight improvement, hitting $23.5 million, up 2.6 percent from the $22.9 million the company brought in during the first quarter of the year.
"Our second quarter results demonstrate several improvements as a result of our restructuring efforts," said Richard Stern, TRM's president and chief executive. "We cut our quarterly operating loss in half (compared to the first quarter of 2007). While I am pleased that the work we are doing is starting to produce results, we are by no means satisfied and will continue to work diligently to further enhance the performance of our ATM estate and rationalize our overall cost structure."
Net losses, from quarter to quarter, remained steady at $2.2 million. But net losses have improved since the second quarter of 2006, when TRM reported a $4.5 million net loss. But ATM sales during 2Q '06 were slightly higher than this year, hitting $27.6 million.
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