The Portland, Ore., merchant automated teller machine company TRM Corp. said it will delay its 2006 earnings report.
TRM said Friday that it would need more time to prepare its report, because of "substantial modifications" to its loan agreements and the sales of some of its units.
In January, TRM sold its British and German ATM operations to NoteMachine Ltd. for $92.6 million, its ATMs in Canada to Ezee ATM LP for $13 million, and its U.S. photocopy business to Skyview Capital LLC for $9.2 million.
TRM said that the operations it sold accounted for 45% of its assets, and 55% of its net sales, and that accounting for the planned dispositions at the end of last year would be complex.
TRM reported net losses of $8.9 million for 2005, and $104.9 million for the first three quarters of last year. On Friday it said it expects to report an even higher loss for the full year.
