Losses Mount at ATM ISO TRM

PORTLAND, Ore. – ATM ISO TRM Corp., operator of the nation’s second largest fleet of cash machines, said yesterday losses grew for its 2006 fourth quarter pushing the one-time operator of 22,000 ATMs deeper in the red, to the tune of $120.1 million for fiscal 2006. The main cause for the losses was a $98.5 million third quarter loss, almost all of it do to impairment charges and the discontinuation of operations, as the company exited its once-core copier rental business. TRM, which provides 6,000 branded ATMs to the CO-OP Network, underwent a major restructuring last year, which included the sale of its copier businesses and of its Canadian, British and German ATM operations. Included in the restructuring was an outsourcing of ATM maintenance to NCR. TRM is just of several ATM ISOs reporting financial woes, with both Cardtronics, owner of Allpoint Network and operator of 25,000 ATMs, and Global Axcess, operator of 4,500 ATMs, also mired in red ink.