Troubles Continue at ATM ISO TRM

PORTLAND, Ore. – Financially ailing ATM ISO TRM Corp., said it continues to experience losses, despite a massive restructuring that included the sale of its core copier rental business and international ATM operations. The company, which operates 6,000 ATMs for the credit union-owned CO-OP Financial Services, reported a loss of $2.2 million for its fiscal first quarter ended March 31, up from $1.5 million for the same period last year. First quarter revenues plunged 31% to $8.6 million, mostly as a result of the shedding of revenue-earning assets. The company, which once operated as many as 18,000 ATMs worldwide, said it operated an average of 10,808 machines in the first quarter, down from 13,122 in the first quarter last year. The company’s shares were trading just above a dollar, at $1.03, yesterday on the Nasdaq.