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Issue Date: Vol. 51, No. 8, August 2011, Posted On: 7/28/2011


USAT Chief Hails Record Revenues, Milestones In Letter To Shareholders


Emily Jed
Emily@vendingtimes.net
vending, vending machine, vending machine company, cashless vending, letter to shareholders, USA Technologies, USAT, George Jensen,

MALVERN, PA -- In a letter to shareholders, USA Technologies chief executive George Jensen said that the cashless payment technology company achieved record revenues for the quarter ended June 30. He also reported unprecedented recurring revenues from license and transaction fees.

The company's unaudited total revenue for fiscal 2011 is approximately $22.9 million, an increase of 45% compared with $15.8 million a year earlier, the letter stated.

Unaudited fiscal year recurring revenue from license and transaction fees reportedly totaled $16.4 million, up 76% over $9.3 million a year ago.

Unaudited gross profit grew by 59%, totaling approximately $7.8 million for the fiscal year, up from $4.9 million a year earlier.

Read Jensen's letter to shareholders


Topic: Vending Features

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  • Avanti And Byndl Launch Customer Relationship Management Platform For Micromarkets
  • Suntory To Buy Japan Tobacco's Vending Businesses For $1.2 Billion
  • Arizona Official Questions State's Blind Vending Program
  • Louisiana's M&M Sales Targets 100% Cashless Vending; Inks USAT Deal

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