USA Tech Fiscal 1Q Processes 14mm Transactions
USA TECH
USA Technologies wireless non-cash transaction network throughout its 1Q
ended September 30 processed for its customers nearly 14 million
transactions for a total of $24.5 million, up year-over-year 89% and 68%
respectively. The Company also has slightly over 1,200 customers
connected to its ePort Connect Service, up from the 1050 in the quarter
ended June 30, for which it is expanding feature set and functionality.
Improved functions are to include faster transaction times; more
efficient transfer of customers’ operational, or DEX (Data Exchange)
data, over the ePort Connect network; improved efficiency and
versatility of the USALive online reporting function through increased
speed and the ability for customers to create and automate custom
reports from their own locations; increased server capacity to enable
continued expansion; and an online ordering and contracts system for
faster and more convenient processing of orders and contracts. This comes
on the heals of the latest reports disclosing the Company saw an August
2010 small-ticket transaction volume of $8.3 million, putting the Company
on an annualized run rate of approximately $100 million. This is an increase
of 72% versus August 2009 through its ePort cashless payment systems for
vending machines, kiosks and other unattended POS terminals while total
transactions processed hit 4.6 million, an increase of 98% over total
transactions processed in August 2009. On September 2, 2010 USA Tech reached
a record of over 200,000 transactions processed in a single day on its ePort
Connect Service through its nearly 82,000 connections on its service versus
52,000 connections as of June 30. With this momentum, the hopes to have
100,000 devices connected to its network by December 31 for a positive
EBITDA(CF Library 2010/09/14).
