Results at USA Technologies (USAT) sent shares up roughly 3 percent on Tuesday (Sept. 13). The company posted a loss, adjusted for one-offs, of $0.04 a share, compared to Street estimates of a break-even bottom line.
The firm’s top line was at a bit under $22 million, $700,000 better than The Street.
For the full year, the company said that the top line should be in the range of $95 million–$100 million, compared to The Street at about $93 million.
In discussing results, Steve Herbert, the firm’s CEO, stated that USAT continued to broaden its reach in the retail channel via “connections with the proliferation of our ePort Connect service across self-serve retail. 2016 was our seventh consecutive year of revenue growth, and we’ve completed 27 consecutive quarters of year-over-year growth.”
“Looking more closely at the fourth quarter, we have net connection as of 28,000, and we added 96,000 connections in the fiscal year. Total connections to the service now stand at 429,000. This is obviously a record for us.”
USAT’s total customer count, according to the firm, is now 11,050, with 225 new customers in the quarter.