Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Computing
Conference & Expo
November 2-4, 2009 NYC
Register Today and SAVE !..

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
USA Technologies Announces Preliminary Estimated Results for Fourth Quarter and Fiscal Year 2017

USA Technologies, Inc. (NASDAQ:USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced preliminary estimated financial results for the fourth quarter and fiscal year ended June 30, 2017.

The company’s financial closing procedures for the quarter and fiscal year ended June 30, 2017 are not yet complete. Its consolidated financial statements for the fiscal year ended June 30, 2017 are not yet available and the company’s independent registered public accounting firm has not completed its audit of the consolidated financial statements for such period. Set forth below are certain estimates that the company expects to report for the quarter and fiscal year ended June 30, 2017. The company’s actual results may differ materially from these estimates.

The following are estimates for the quarter ended June 30, 2017:

  • Revenues of between $32 million to $34 million, representing an increase of between 46% to 55% over revenues for the fourth quarter ended June 30, 2016;
  • Net income (loss) of between $(400,000) to $400,000, representing an improvement of between 54% to 146% over net loss for the fourth quarter ended June 30, 2016;
  • Adjusted EBITDA of between $2.3 million to $3.1 million, representing an increase of between 267% and 395% over Adjusted EBITDA for the fourth quarter ended June 30, 2016; and
  • Net new connections of 64,000, representing an increase of 129% over net new connections during the company’s fiscal quarter ended June 30, 2016. The number of net new connections added to the company’s service during the fiscal fourth quarter ended June 30, 2017 reflected a significant order received from an existing customer related to the customer’s efforts to attain a 100% cashless presence in the marketplace.

The following are estimates for the fiscal year ended June 30, 2017:

  • Revenues of between $102 million to $104 million, representing an increase of between 32% to 34% over revenues during the company’s fiscal year ended June 30, 2016;
  • Net loss of between $(2.5) million to $(1.7) million representing an improvement of between 63% to 75% over net loss for the company’s fiscal year ended June 30, 2016;
  • Adjusted EBITDA of between $6.5 million to $7.3 million, representing an increase of between 9% and 22% over Adjusted EBITDA for the fiscal year ended June 30, 2016; and
  • Net new connections of 139,000, representing an increase of 45% over net new connections during the company’s fiscal year ended June 30, 2016, reflecting the significant order referred to above.

During the fiscal year ended June 30, 2017, the company estimates that approximately 66% of its revenues consisted of license and transaction fees and approximately 34% of its revenues consisted of equipment sales.

During the fiscal year ended June 30, 2017, the dollar transaction volume was approximately $800 million which is an increase of approximately 37% over the dollar transaction volume during the fiscal year ended June 30, 2016. Based upon the company’s dollar transaction volume during the fourth fiscal quarter ended June 30, 2017, the annualized dollar transaction volume would be approximately $900 million, which is an increase of approximately 32% over the company’s dollar transaction volume during the fourth quarter ended June 30, 2016.

Adjusted EBITDA Description and Reconciliation

The company considers Adjusted EBITDA as net income (loss) before interest income, interest expense, income taxes, depreciation, amortization, non-recurring fees and charges that were incurred in connection with the integration of the VendScreen business, change in fair value of warrant liabilities and stock-based compensation expense. The company has excluded the non-operating item, change in fair value of warrant liabilities, because it represents a non-cash gain or charge that is not related to our operations. The company excluded the non-cash expense, stock-based compensation, as it does not reflect the company’s cash-based operations. The company has excluded the non-recurring costs and expenses incurred in connection with the VendScreen transaction in order to allow more accurate comparison of the financial results to historical operations.

Adjusted EBITDA is a non-GAAP financial measure which is not required by or defined under GAAP (Generally Accepted Accounting Principles). The company uses these non-GAAP financial measures for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. The company believes that these non-GAAP financial measures provide useful information about its operating results, enhance the overall understanding of past financial performance and future prospects and allow for greater transparency with respect to metrics used by management in its financial and operational decision making. Adjusted EBITDA is presented because the company believes it is useful to investors as a measure of comparative operating performance. Additionally, the company utilizes Adjusted EBITDA as a metric in its executive officer and management incentive compensation plans.

The presentation of this financial measure is not intended to be considered in isolation or as a substitute for the financial measures prepared and presented in accordance with GAAP, including the company’s net income or net loss or net cash used in operating activities. 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 are not a substitute for or a measure of the company’s profitability or net earnings.

The following table reconciles estimated preliminary Adjusted EBITDA to estimated preliminary net income (loss) for the three months and fiscal year ended June 30, 2017, and actual Adjusted EBITDA to net income (loss) for the three months and fiscal year ended June 30, 2016:

   
Three months ended

Twelve months ended

($ in thousands) 6/30/2017   6/30/2016 6/30/2017   6/30/2016
(Preliminary) (Actual) (Preliminary) (Actual)
Net income (loss) $

(400) - 400

 

$ (872 ) $

(2,500) - (1,700)

 

$ (6,806 )
Less interest income (100 ) (182 ) (500 ) (320 )
Plus interest expenses 300 197 900 600
Plus income tax provision / (Less income tax benefit) 50 (703 ) 150 (615 )
Plus depreciation expense 1,850 1,272 5,400 5,135
Plus amortization expense   50     44     200     88  
EBITDA   1,750 - 2,550     (244 )   3,650 - 4,450     (1,918 )
 
Plus loss on fair value of warrant liabilities / (Less gain on fair value of warrant liabilities) - (18 ) 1,500 5,674
Plus stock-based compensation 550 198 1,200 849
Plus intangible asset impairment - 432 - 432
Plus VendScreen non-recurring charges - 258 100 842
Plus Litigation related professional fees   -     -     50     105  
Adjustments to EBITDA   550     870     2,850     7,902  
Adjusted EBITDA $ 2,300 - 3,100   $ 626   $ 6,500 - 7,300   $ 5,984  
 

About USA Technologies

USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort® Connect, ePort® Interactive, QuickConnect, an API Web service for developers, and MORE., a customizable loyalty program. USA Technologies has 73 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others. For more information, please visit the website at www.usatech.com.

Forward-Looking Statements

USAT cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by USAT that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to conditions affecting the capital markets, general economic, industry, or political conditions, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in our Annual Report on Form 10-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

F-USAT

About Business Wire
Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

SOA World Latest Stories
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained , Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @...
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in thi...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE