USA Technologies announces first $5 million quarter, Up 105%
USA Technologies, a company specializing in the networking of wireless non-cash transactions, associated financial/network services and energy management, has announced unaudited revenue for the fourth fiscal quarter ending June 30 of approximately $5 million compared with $2.4 million for the fourth quarter of fiscal year 2007. This first $5 million quarter represents a revenue increase of 105% and marks the company’s fourth successive record revenue quarter.
Revenues for fiscal year ending June 30, total approximately $16,010,000 compared to $9,158,012 for the fiscal year ended June 30, 2007, an increase of 76%. USA Technologies’ revenues during the month of June 2008 were in excess of $2,300,000, the largest monthly revenues in USA Technologies’ history.
During the fourth quarter ended June 30, 2008, the company processed approximately 3.9 million transactions totaling $10.4 million, compared with 1.5 million transactions equaling $6.7 million during the quarter ended June 30, 2007. This represents a 160% increase in transaction volume, and 55% in dollars processed.
“We are doing business with many of the biggest brands in the vending industry for both our ePort and EnergyMiser product line, which is rapidly driving up sales and transactions through our USALive network,” says Jensen. ![[end]](/resources/bullet/contactlessnews-4.gif)
