Tag Archives: developmental

USAT Reports 50% Drop in Revenues for Quarter

Wireless cash transactions provider USA Technologies has reported a decrease in revenues of
$2,308,932 compared with $4,263,512 for the fiscal 2008 third quarter
USAT processed approximately 5.7 million transactions totaling over $11.2 million as
compared with approximately 3.2 million transactions totaling over $8.9
million during the corresponding quarter of fiscal 2008, an increase of
78% in transaction volume and 26% in dollars processed. Equipment sales were
$883,318 for the quarter ended March 31, 2009, a decrease of $2,337,079
compared with $3,220,397 compared to last year. The
increase in license and transaction fees was primarily due to the
increase in the number of units on the Company’s “USALive” network. The
decrease in equipment revenue was related to key customers awaiting the
availability of the new ePort G8 and ePort Edge products, as well as a
decrease in capital spending by some customers due to the current
economic slowdown. The “ePort G8” product became available for sale at the
end of the third quarter, so it had little impact on revenue during the
third quarter and ePort Edge is expected to be launched during the
fourth quarter 2009. For complete details on USAT’s latest performance visit CardData ([www.carddata.com](http://www.carddata.com))