Profits Fall At Small ATMIndependent
PONTE VEDRA, Fla. - (11/16/05) -- Global Axcess Corp., an independentoperator of 2,700 ATMs aimed at credit unions and small banks, saidnet income declined in its third quarter to $84,364, as increaseexpenses related to its growing ATM fleet ate into profits. Thecompany, which recently added 150 ATMs to its fleet, said revenuesfor the third quarter rose 59% to $5.1 million. For the first threequarters, Global Axcess reported a 68% surge in revenues to $15.2million, but an 8% decline in profits to $559,176, or three cents ashare, compared to the first nine months last year. The companyoperates a co-branded ATM program for credit unions and communitybanks through its Nationwide Money Services subsidiary.