Cash Systems, Inc. Announces First Quarter 2007 Financial Results.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- Cash Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CKNN), a provider of cash access solutions for the gaming industry, today announced first quarter 2007 financial results. First Quarter 2007 Financial Results Revenue for the first quarter was $25.5 million, an increase of 25%, compared to $20.5 million in the first quarter of 2006. The Company reported a loss from operations of ($268,021) in the first quarter of 2007 compared to loss from operations of ($1.5 million) in the prior year period. Net loss was ($1.4 million), or ($0.08) per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared to net loss of ($1.2 million) or ($0.07) per diluted share, in the first quarter of 2006. Guidance The Company continues to expect revenue to increase approximately 20% from 2006 to between $115 million and $120 million in fiscal 2007. The Company's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become margin target is 10% to 12%. Although the Company does not expect to achieve its long-term EBITDA margin target in 2007, the Company does expect EBITDA to be positive in every quarter of fiscal 2007 and the second half of the year should reflect new product introductions and their positive contribution to margins. About Cash Systems, Inc. Cash Systems, Inc., located in Las Vegas, with additional offices in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. and Burnsville Burns·ville A city of southeastern Minnesota, a suburb of Minneapolis. Population: 60,000. , is a provider of cash-access and related services to the retail and gaming industries. Cash Systems' products include its proprietary cash advance systems, ATMs and check cashing solutions. Please visit http://www.cashsystemsinc.com for more information. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including the Company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful execution of the Company's plan of operation, changes in the Company's anticipated earnings, continuation of current contracts, gaming and other applicable regulations, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-K/A and 10-Q. In addition, the factors underlying Company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The Company does not undertake to update any forecasts that it may make available to the investing public. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion