USA Technologies Announces First Quarter, Fiscal 2014 Results
finance.yahoo.com
Service Revenues Up 23%; Total Revenues Up 21%
Total Connections to ePort Connect Service Up 25% (year over year) to 217,000
Outlook
“As consumer behavior, mobile payment options, loyalty programs and other factors add momentum to the rate of cashless adoption in our targeted markets, we believe USAT is well positioned to benefit,” said Herbert. “We are also encouraged by new developments that, in our view, reflect a stronger mindset toward cashless adoption, such as our recently announced five-year agreement with USConnect—our largest commitment ever for our ePort and ePort Connect service.
“For fiscal 2014, our priorities include delivering 25%-30% license and transaction fee revenue growth and 20-25% total revenue growth. Achievement of our revenue expectations coupled with cost efficiencies and operating leverage, should translate to a 40%-50% increase in Adjusted EBITDA for fiscal 2014 and a 100% improvement in non-GAAP net income compared to fiscal 2013,” concluded Herbert. |
