Key Developments: USA Technologies Inc (USAT.W)
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Latest Key Developments (Source: Significant Developments)
US Patent Office Grants Patent To USA Technologies Inc
USA Technologies Inc announced that the U.S. Patent Office has granted USAT its 85th patent, further extending USAT`s portfolio of intellectual property in the area of cashless payment and remote diagnostics. U.S. Patent #8,373,558 describes devices and methods for generating an alert for a vending machine. It adds to a collection of USAT patents related to cashless payment, remote audit and interactive transaction capabilities in a vending machine accumulated by USAT as a market for cashless payment and telemetry serving the small-ticket, unattended market. Full Article
USA Technologies Inc Reaffirms FY 2013 Revenue Guidance
USA Technologies Inc announced that it remain committed to achieving over 30% revenue growth for fiscal 2013. The Company reported revenue of $29.02 million in fiscal 2012. Full Article
USA Technologies Inc Announces Ten Exclusive Customer Agreements
USA Technologies Inc announced that it entered into ten new exclusive agreements with existing customers during the second quarter ended December 31, 2012. The agreements, which call for exclusive use of USAT's comprehensive ePort Connect service, are all three years in duration. The customers with whom the exclusive agreements have been entered into represent existing USAT customers who are regional vending companies as well as a Pepsi distributor. Full Article
USA Technologies Inc Issues Q2 2013 Guidance Above Analysts' Estimates; Reaffirms FY 2013 Net Income Guidance
USA Technologies Inc announced that it expects to achieve non-GAAP net income for its second quarter of 2013. Total revenues for the second quarter of 2013 are expected to be in the range of $8.8 to $8.9 million. Given the second quarter results and the recurring nature of the majority of revenues, the Company expects non-GAAP net income is sustainable; therefore, as it has previously stated, expect to achieve non-GAAP net income for fiscal 2013 as well. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $7.3 million and net income of $(0.16) million for the second quarter of 2013. Full Article
All Stop Vending Selects USA Technologies Inc As Exclusive Partner For Cashless Payment And Telemetry Services
USA Technologies Inc and M2M telemetry solutions for small-ticket, self-serve retailing industries, announced that All Stop Vending (All Stop), a vending food service company based in southeastern Florida, has signed an exclusive agreement with USAT that also indicates All Stop`s intent to go 100% cashless. Full Article
USA Technologies Inc Reaffirms FY 2013 Revenue Guidance
USA Technologies Inc announced that it remain committed to achieving over 30% revenue growth for fiscal 2013. The Company reported revenue of $29.02 million in fiscal 2012. Full Article
USA Technologies Inc Comments On FY 2013 Revenue Guidance-Conference Call
USA Technologies Inc announced that for fiscal 2013, it is targeting double-digit revenue growth. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $36.08 million for fiscal 2013. Full Article
USA Technologies, Inc. Issues Q4 2012 Revenue Guidance; Comments On Q4 2012 Earnings Guidance
USA Technologies, Inc. announced that for the fourth quarter of 2012, it expects total revenues to be approximately $8.0 million. The Company also expects Adjusted EBITDA for the fourth quarter of 2012 to be greater than the third quarter 2012, excluding proxy contest costs and net loss for the fourth quarter of 2012 quarter to be greater than the third quarter 2012. Full Article
USA Technologies, Inc. Receives Commitment Letter For $3 Million Asset Based Credit Line From Avidbank Corporate Finance
USA Technologies, Inc. (USAT) announced that it has received a commitment letter from Avidbank Corporate Finance (Avidbank) to establish a $3.0 million, one-year secured line of credit. The credit line is part of USA Technologies’ strategy to assist in the accelerated transition of cashless payment systems and services in the unattended small-ticket, retail market through its JumpStart program. USAT anticipates closing the line of credit with Avidbank within 30 days. The amount of funds to be made available to USAT under the line of credit would be based upon a percentage of eligible accounts receivable and license and transaction fees to be specified in the loan agreement. The closing of the line of credit transaction is subject to various terms and conditions set forth in the commitment letter, including the execution and delivery of a loan agreement satisfactory to the parties. Full Article
USA Technologies, Inc. Issues Q3 2012 Guidance; EBITDA Guidance Above Analysts' Estimates
USA Technologies, Inc. announced that for the third quarter of 2012, total revenues expected to be approximately $7.5 million and adjusted EBITDA expected to be approximately $300,000. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $7.2 million and EBITDA of $0.04 million for the third quarter of 2012. Full Article
BRIEF-USA Tech up in premarket after Q2 outlook
NEW YORK, Jan 8 - USA Technologies Inc : * USA Tech up 8.2 percent to $2.25 in premarket after Q2 outlook
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