ATM ISO Plunges Deeper into the Red

PONTE VEDRA, Fla. – Global Axcess Corp., an independent operator of almost 4,400 ATMs, reported yesterday that it eked into the black to the tune of $14,000 in profits for the fourth quarter, but sill lost $4.9 million for its fiscal 2006. That’s up from a $723,000 loss for 2005. Losses for 2006 included more than $3 million in impairment of assets charges, and $650,000 for legal expenses, including $450,000 to settle a shareholder suit. The company, which operates co-branded ATMs for credit unions and community banks under its Nationwide Money Services unit, reported a 4.5% rise in fourth quarter revenues, and a 10% rise for 2006, to $21.4 million.

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