USAT - Sector: Services - Industry: Business Services

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Profile:  

USA Technologies Inc.
100 Deerfield Lane
Suite 140
Malvern, PA 19355
United States - Map
Phone: 610-989-0340
Fax: 610-989-0344
Website: http://www.usatech.com

Details  
Index Membership: N/A
Sector: Services
Industry: Business Services
Full Time Employees: 39


Business Summary  

USA Technologies, Inc. supplies cashless, remote management, reporting, and energy management solutions to the unattended point of sale market principally in the United States. The company's network devices and associated services enable the owners and operators of distributed assets, such as vending machines, kiosks, personal computers, photocopiers, and laundry equipment the ability to monitor, control, and report on the results of the distributed assets, as well as the ability to offer the customers cashless payment options. Its products include Intelligent Vending, an e-Port connect solution for the vending industry; eSuds, a solution for the commercial laundry industry; Business Express, a suite of office equipment; and KIOSK that offers electronic payment option, and Web-based remote monitoring and management for all kiosk types. The company also manufactures and sells energy management products that reduce the electrical power consumption, including VendingMiser, CoolerMiser, VM2IQ and CM2IQ, SnackMiser, and PlugMiser. It primarily serves in the vending, kiosk, commercial laundry, and business center industry sectors. The company was founded in 1992 and is based in Malvern, Pennsylvania.

Business Overview

BRIEF: For the six months ended 31 December 2010, USA Technologies, Inc.'s revenues increased 38% to $10.5M. Net loss applicable to common decreased 69% to $2.4M. Revenues reflect an increase in income from license & transaction fees. Lower loss also reflects an increase in gross profit margin, lower selling, general & administrative, decrease in depreciation and amortization expense and a fall in interest expense. http://www.usatech.com/

[setravis]

Higher highs..
This should be interesting, ended the day on the high note.
Made a Triple Bottom back in July, August and September.
Now the Cup and Handel.

Below are the 6 month and 1 year charts...

[setravis]

USAT  PYMNTS.com Features USA Technologies in Report Titled...  by Business Wire  Feb 3 2011 6:00AM 


MALVERN, Pa., Feb 03, 2011 (BUSINESS WIRE) -- PYMNTS.com ( http://www.pymnts.com/ ), the leading online media source on global payment technology, recently featured USA Technologies (USAT), in a report headlined -- "USA Technologies Conquering the Last All-Cash Business Opportunity" ( http://www.pymnts.com/usa-technologies-conquering-the-last-all-cash-business-opportunity/?hpb ).

The report, which states that USA Technologies is 'leading the way in pioneering technologies and services for one of the last all-cash business opportunities - in vending machines, kiosks and unattended point-of-sale terminals', features an in-depth interview with USA Technologies Chairman and CEO, George R. Jensen Jr., in which he outlines his vision for cashless vending and cashless payment trends in the future.

PYMNTS.com is considered to be the premier source of news, expert-driven commentary and information, innovation, and user contributed content centered on how payments are conducted across the globe.

PYMNTS.com is published by 1st in Media, LCC, a joint venture between Business Wire and Market Platform Dynamics. Business Wire, a wholly owned subsidiary of Berkshire Hathaway, is the global market leader in commercial news and disclosure distribution.

To access the PYMNTS.com report on USA Technologies' cashless payment technology and services, please click on http://www.pymnts.com/usa-technologies-conquering-the-last-all-cash-business-opportunity/?hpb .

About PYMNTS.com

PYMNTS.com is the premier source of news, expert-driven commentary and information, innovation, and user contributed content centered on how payments are conducted across the globe: a mashup of payments and payment enablers such as social media, loyalty, advertising, mobile, and other technologies. Launched in October 2009, PYMNTS.com delivers valuable content and resources that work to both engage industry professionals and provide a forum for discussion. Whether you are searching for breaking news or sector-specific information and innovation, PYMNTS.com will be your first stop.

About USA Technologies:

USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has been granted 79 patents and has agreements with AT&T, Visa, Compass and others. Visit our website at www.usatech.com .

Forward-looking Statements:

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation the anticipated future financial results of the Company and the possibility of the Company expanding the use of its products to areas outside of the United States and Canada are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, whether or not the marketplace continues to adopt cashless transaction processing; whether or not the marketplace continues to purchase the Company's products in the future; the ability of the Company to retain key customers from whom a significant portion of its revenues is derived; the ability of the Company to compete with its competitors to obtain market share in the future; the ability of the Company to obtain widespread commercial acceptance of it products in the future; whether the Company's customers purchase ePort devices or other Company products at levels currently anticipated by the Company; whether the Company's customers continue to operate or commence operating ePorts received under the Jump Start Program or otherwise at levels currently anticipated by the Company; and whether the Company's customers would utilize the Company's products outside of the United States or Canada. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

SOURCE: USA Technologies


USA Technologies:
George Jensen, Chairman & CEO
Stephen P. Herbert, President & COO
800-633-0340
[email protected]
or
Investor Relations:
Gregory FCA
Joe Hassett, Senior Vice President, 610-228-2110
[email protected]

[setravis]

MALVERN, Pa., Jan 20, 2011 (BUSINESS WIRE) -- --License and Transaction Fee Revenue Up 81%, Total Revenue Up 60%

USA Technologies, Inc. (USAT, Trade ), a leader in the networking of wireless cashless transactions, today reported results for the second quarter of fiscal 2011 (ended December 31, 2010).

Results for Second Fiscal Quarter

Total revenue for the quarter increased 60% to $6.0 million, compared to $3.8 million in the second quarter of the prior year, while revenue from recurring license and transaction fees increased 81% to $3.8 million compared to $2.1 million for the quarter a year ago. Gross profit for the quarter was $2.5 million, or 41% of revenue, and was up 146% versus $1.0 million, or 27% of revenue, in last year's fiscal second quarter. Earnings before interest, taxes, depreciation and amortization (EBITDA) was $456,000 for the quarter, the Company's first positive EBITDA quarter since listing on NASDAQ. In the second fiscal quarter of the prior year the Company had an EBITDA loss of $3.8 million.

During the second quarter the Company recorded significant growth across its operating performance metrics, including:

Increased the number of devices connected to its network by 73%, bringing the total number of devices connected at quarter end to approximately 109,000, compared to 63,000 as of December 31, 2009, driving an 81% increase in license and transaction processing revenue as compared to the prior corresponding quarter; The number of cashless transactions processed during the quarter increased to 15.9 million and processing volume reached $26.2 million, representing increases of 94% and 75%, respectively; Customers on the Company's USALive(R) Network up 81% compared to a year ago, with approximately 200 new customers added during the past three months, bringing the total number of such customers to over 1,400 as of December 31, 2010. By comparison, in the second quarter of last fiscal year the Company added 175 new customers to end the quarter with approximately 775 customers; Decreased selling, general and administrative expenses by 53% compared to the second quarter of the previous year.

"The second quarter of fiscal 2011 was the most successful quarter in the Company's history as we sustained our momentum to surpass two milestones, generating positive quarterly EBITDA and exceeding 100,000 devices connected to our network," said George Jensen, Chairman and CEO of USA Technologies. "During the quarter, we added over 21,000 new connections to our network. This widening base of connected devices not only provides incremental revenue, but we believe provides our small-ticket, unattended point-of-sale target markets with the added validation it has been awaiting."

In addition, as the Company has attained positive EBITDA for the quarter and had at least 100,000 connections to its network as of December 31, 2010, Shareholder Advocates For Value Enhancement does not have the right to name an additional director pursuant to the February 4, 2010 Settlement Agreement.

Mr. Jensen concluded, "At the same time we have grown revenues, we have significantly reduced our selling, general and administrative expenses. Over the long term, we believe we can effectively leverage our growing stream of monthly revenues while maintaining a tight control on expenses. We are excited about our recent successes and the significant growth we have achieved over past several quarters and look forward to building upon that growth and solidifying our place as the leader in small ticket, unattended wireless transactions."

Non-GAAP Financial Measures: EBITDA

This press release includes the following financial measure defined as a non-GAAP (Generally Accepted Accounting Principles) financial measure by the Securities and Exchange Commission: EBITDA. This non-GAAP financial measure is not required by or defined by GAAP, nor is the presentation of this financial measure intended to be considered in isolation or as a substitute for the financial measure prepared and presented in accordance with GAAP, including the net income or net loss of the Company. Management recognizes that non-GAAP financial measures have limitations in that they do not reflect all of the items associated with the Company's net income or net loss as determined in accordance with GAAP and is not a substitute for or measure of the Company's profitability or net earnings. EBITDA is presented because the Company had a stated goal of achieving positive quarterly EBITDA for the quarter ended December 31, 2010 and EBITDA is utilized in the February 4, 2010 Settlement Agreement.

About USA Technologies:

USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has been granted 79 patents and has agreements with AT&T, Visa, Compass and others. Visit our website at www.usatech.com .

Forward-looking Statements:

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation the anticipated future financial results of the Company are forward-looking statements. When used in this release, words such as "anticipate," "believe," "estimate," "expect," "intend," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, whether or not the marketplace continues to adopt cashless transaction processing; whether or not the marketplace continues to purchase the Company's products in the future; the ability of the Company to retain key customers from whom a significant portion of its revenues is derived; the ability of the Company to compete with its competitors to obtain market share in the future; the ability of the Company to obtain widespread commercial acceptance of it products in the future; whether the Company's existing or anticipated customers purchase ePort devices or other Company products at levels currently anticipated by the Company; and whether the Company's customers continue to operate or commence operating ePorts received under the Jump Start Program or otherwise at levels currently anticipated by the Company. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.




SOURCE: USA Technologies, Inc.


USA Technologies:
George Jensen, Chairman & CEO
Stephen P. Herbert, President & COO
800-633-0340
[email protected]
or
Investor Relations:
Gregory FCA
Joe Hassett, Senior Vice President, 610-228-2110
[email protected]

[setravis]

Higher highs..
This should be interesting, ended the day on the high note.
Made a Triple Bottom back in July, August and September.
Now the Cup and Handel.

.......and interesting it did get!!!


11:32AM USA Tech reports over $10 mln processed in February; on $120 million annualized run rate (USAT) 1.82 +0.04 : Co announced that for the month of February 2011, the Company processed a record 6.4 mln small-ticket transactions representing $10.3 mln--a 24% increase in monthly dollars processed compared to September 2010 when the company last announced these figures, and a new milestone for the Company. The current monthly processing rate equates to over $120 mln in annualized transactions, up 20% from the $100 mln annualized transaction rate achieved in September 2010.




Day's Range: 1.75 - 2.72
52wk Range: 0.46 - 2.72
Volume: 5,515,197
Avg Vol (3m): 815,889
Market Cap: 67.63M
P/E (ttm): N/A
EPS (ttm): -0.29
Div & Yield: N/A (N/A)

Technicals
Last Price Quote is:
38.12%above 13-day EMA
56.15%above 50-day EMA
RS Rating: 92 

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USAT  USA Technologies Achieves Milestone for Monthly Transaction...  by Business Wire  Mar 3 2011 11:31AM

MALVERN, Pa., Mar 03, 2011 (BUSINESS WIRE) -- USA Technologies, Inc. (USAT), a leader in the networking of wireless, non-cash transactions, today announced that for the month of February 2011, the Company processed a record 6.4 million small-ticket transactions representing $10.3 million--a 24% increase in monthly dollars processed compared to September 2010 when the company last announced these figures, and a new milestone for the Company. The current monthly processing rate equates to over $120 million in annualized transactions, up 20% from the $100 million annualized transaction rate achieved in September 2010.

The Company also reported that on February 12, 2011, it had reached a record of over 300,000 cashless transactions processed in a single day on its ePort Connect Service, up 50% from the last reported record of 200,000 in a single day on September 2, 2010.

"In January, we announced the results of our second fiscal quarter, during which we saw an increase in the number of new ePort customers to over 1,400 and the number of devices connected to our service to approximately 109,000," said George R. Jensen Jr., Chairman and CEO, USA Technologies Inc. "The combination of increased customers and connections, and increased consumer usage has led to a significant increase in monthly dollars processed and transaction volume, resulting in this milestone of over $10 million processed in a single month. We believe that as cashless technology becomes more pervasive, the growth of our monthly transaction volume becomes a strong indicator of the mainstreaming of cashless for small-ticket, unattended, point-of-sale industries like vending and kiosk."

As of December 31, 2010 the Company billed monthly fees for approximately 90,000 of its connections. License and transaction fee revenue for the December 31, 2010 quarter was $3,755,690, compared to $2,073,786 for the corresponding quarter a year ago. License and transaction fee revenue is expected to increase as ePort terminals which were shipped to customers in the December 31, 2010 quarter begin or continue to generate license and transaction revenue. The Company counts its ePort connections upon shipment of an active terminal to a customer under contract, at which time activation on its network is performed by the Company, and the terminal is capable of conducting business via the Company's network and related services.

"We believe the exponential growth in our transaction processing volumes highlights both the increase in consumer acceptance of our technology at the point of sale, as well as the growth in the number of our customers and connections," concluded Mr. Jensen. "We believe that, with approximately 109,000 connections to our service and rapid growth in transactions driven by consumer demand, the small-ticket, unattended cashless payments market is reaching its tipping point. USA Technologies is proud to be a pioneer and a leader in this space."

About USA Technologies:

USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has been granted 79 patents and has agreements with AT&T, Visa, Compass and others. Visit our website at www.usatech.com .

Forward-looking Statements:

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation the financial position, anticipated connections to our network, business strategy and the plans and objectives of the Company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business, financial market and economic conditions, including but not limited to, the ability of the Company to retain key customers from whom a significant portion of its revenues is derived; whether the Company's customers continue to operate or commence operating ePorts shipped to such customers under the Jumpstart program or otherwise at levels currently anticipated by the Company; the ability of the Company to compete with its competitors to obtain market share; the ability of the Company to obtain widespread commercial acceptance of it products; and whether the Company's existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by the Company. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

SOURCE: USA Technologies, Inc.


USA Technologies, Inc.
Investor Contact:
Gregory FCA
Joe Hassett, Senior Vice President, 610-228-2110
[email protected]
or
Press Contact:
Gregory FCA
Katie Nicolai, Account Executive, 610-228-2128
[email protected]

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Pre-Market mover...

USA Technologies, Inc.(NasdaqGM: USAT )
Pre-Market Real-Time: 3.48  0.59 (20.42%) 8:58AM EDT

Yesterday's closing chart action...

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USAT Verizon Wireless and USA Technologies Partner to Deliver Ind...  by Business Wire  Apr 26 2011 7:00AM

PHILADELPHIA, Apr 26, 2011 (BUSINESS WIRE) -- Verizon Wireless and USA Technologies, Inc. (USAT) today announced a collaboration that the companies believe will accelerate the adoption of small-ticket, wireless, cashless payment services and machine-to-machine applications via USA Technologies' ePort Connect Service. The USA Technologies solution will now include the Verizon Wireless network for connectivity that enables wireless point-of-sale payments at vending machines via credit and debit cards.

With more than 100,000 M2M (machine-to-machine) connections to their ePort Connect service, USA Technologies is a leading provider of small-ticket, wireless, non-cash transaction services to businesses and industries including kiosks, hospitality, digital imaging and the $43 billion vending machine industry.

Additionally, USA Technologies expects to benefit from Verizon Wireless' Machine to Machine Management Center portal managed through nPhase, a Verizon Wireless - Qualcomm joint venture and pioneer in helping businesses ease deployment and management of M2M applications.

"Our association with Verizon Wireless aligns us with a powerful leading global brand in the wireless communications industry," Stephen P. Herbert, President and COO, USA Technologies said. "In addition to providing our customers with the reputable service that Verizon has built its brand on, we believe that the sales agreement will enable us to increase our sales reach by having our ePort Connect cashless payments service now included in the Verizon sales toolkit. This represents an important milestone for USA Technologies as consumers continue to adapt to using credit or debit cards for small-ticket, wireless point-of-sale transactions."

According to an industry census published by Vending Times, a trade publication that follows the vending industry, vending machines in the U.S. generated almost $43 billion in revenue in 2009.

"USA Technologies is a proven leader in the cashless payment technology space so it made perfect sense that they align themselves with a wireless service provider with unmatched reliability to help power that technology," said Mario Turco, Regional President for Verizon Wireless in Philadelphia. "We look forward to working with them to offer a cost-effective, turnkey solution to B2B customers looking to improve efficiencies and grow sales by leveraging M2M applications that capitalize on the rapidly expanding market for non-cash payment services."

Verizon offers wireless and wireline products and services that provide enterprise and government customers in a variety of industries with the networking capabilities they require to keep their organizations running at top speeds today and in the future. For more information about Verizon products and services for business, visit www.verizonwireless.com/business .

About Verizon Wireless

Verizon Wireless operates the nation's fastest, most advanced 4G network and largest, most reliable 3G network. The company serves 104 million total wireless connections, including more than 88 million retail customers. Headquartered in Basking Ridge, N.J., with 85,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, NASDAQ: VZ) and Vodafone (LSE, NASDAQ: VOD). For more information, visit www.verizonwireless.com . To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia .

About USA Technologies:

USA Technologies is a leader in wireless, small-ticket cashless transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has been granted 79 patents and has agreements with Visa, Compass and others. Visit our website at www.usatech.com .

Forward-looking Statements:

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation the financial position, anticipated connections to our network, business strategy and the plans and objectives of the Company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to: business, financial market and economic conditions; the ability of the Company to retain key customers from whom a significant portion of its revenues is derived; whether the Company's customers continue to operate or commence operating ePorts received under the Jumpstart program or otherwise at levels currently anticipated by the Company; the ability of the Company to compete with its competitors to obtain market share; the ability of the Company to obtain widespread commercial acceptance of it products; and whether the Company's existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by the Company. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, the Company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

SOURCE: Verizon Wireless and USA Technologies, Inc.


Verizon Wireless
Sheldon Jones, 215-638-5668
215-219-8890 (cell)
[email protected]

                              www.twitter.com/VZWPhillyMetro
                           
or
USA Technologies
Investors:
Gregory FCA
Joe Hassett, 610-228-2110
[email protected]
or
Press:
Gregory FCA
Katie Nicolai, 610-228-2128
[email protected]