ATM Giant Reports More RedInk
PORTLAND, Ore. - (05/05/06) TRM Corp., operator of thenations second-biggest fleet of ATMs, reported a net loss of$1.5 million, or nine cents a share, for the first quarter,compared to a profit of $1.7 million, or 10 cents a share, in thesame quarter last year, and a loss of $13.7 million in lastyears fourth quarter. The company, which operates more than18,000 ATMs in the U.S., said revenues declined 10% in the firstquarter to $53 million, compared to the first quarter last year.The reduced revenues reflects a net decline in unit count and cashwithdrawals associated with the 14,200 ATMs it acquired in November2004 from eFunds, as well as declining revenues from thecompanys photocopy business. Meantine, the company trimmedits ATM fleet by about 3,000 machines in the first quarter. About6,500 of the companys ATMs carry the CO-OP Network brand andare part of the credit union-owned network.