The Portland, Ore., automated teller machine operator TRM Corp. said it narrowed its losses last year after streamlining its operations.
TRM reported last week that its full-year net loss shrank 93% from 2006, to $8.4 million. Its fourth-quarter loss shrank 86%, to $797,000.
The company has been struggling since 2006. It is appealing Nasdaq Stock Market Inc.'s plan to delist its shares because it does not meet the exchange's minimum price requirements. TRM also faced delisting for not filing its 2006 earnings report on time.
Since announcing in April 2006 that it was having trouble meeting debt obligations, it has made management changes and sold several ATM operations outside the United States.
Last year "was a transitional year for TRM as a company," Richard Stern, its president and chief executive, said in a press release. "We began the year addressing our balance sheet issues and finished the year focused on our income statement and operational results. … Most importantly, we experienced improved operating results, largely as a result of our ongoing restructuring effort."
