PORTLAND, Ore. – TRM Corp., the one-time backbone of the CO-OP ATM network, reported third quarter losses of $4.9 million, or 28 cents a share. That’s down from $98.1 million for last year’s third quarter, when the company wrote down more than $100 million in assets.
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For the first three quarters of 2007, the nation’s second-largest independent operator of ATMs reported a loss of $9.3 million, down from $104.9 for the same nine-month period last year.
At one time, TRM was providing 6,000 ATMs for CO-OP, but the credit union-owned network has been weaning itself off the company’s machines and now uses fewer than 4,000 TRM ATMs.
