September 15, 2003
Company Press Release
SOURCE: Universal Money Centers, Inc.
UNIVERSAL MONEY CENTERS, INC. ANNOUNCES SECOND QUARTER
FINANCIAL RESULTS
MISSION, Kan., - Universal Money reported revenues for the
second quarter ended July 31, 2003 of $1.93 million as
compared to $2.05 million for the second quarter ended July
31, 2002. The company reported a net loss of $108,532 for
the second quarter ended July 31, 2003, compared to a net
loss of $101,091 for the second quarter ended July 31, 2002.
The number of ATMs in the Company's network increased to 720
ATMs in the second quarter ended July 31, 2003, from 661 in
the second quarter ended July 31, 2002. Additional
information is contained in the Company's Form 10-QSB for
the second quarter ended July 31, 2003 filed today with the
Securities and Exchange Commission.
Universal Money is engaged in the business of operating a
network of automated teller machines (ATMs), as well as
providing network management and switching services for
banks and third party ATM owners. The ATMs provide holders
of debit and credit cards access to cash, account
information and other services at convenient locations and
times.
Universal Money and Universal Money Center are registered
trademarks of Universal Money Centers, Inc., and are the
property of the owner herein.
This press release may contain "forward looking statements,"
as well as historical information. Forward-looking
statements include projections, statements of plans and
objectives, statements of future economic performances and
statements of assumptions underlying such statements.
Forward-looking statements involve known and unknown risks
and uncertainties. Many factors could cause actual results
to differ materially from those that may be expressed or
implied in such forward-looking statements, including, but
not limited to, changes in laws or card association rules
affecting the Company's ability to impose surcharge fees and
continued customer willingness to pay such fees, the ability
of the Company to expand its ATM base and transaction
processing business, competition, general economic
conditions and other factors detailed from time to time in
the Company's reports and registration statements filed with
the Securities and Exchange Commission.
SELECTED FINANCIAL DATA
(unaudited)
SECOND QUARTER ENDED JULY 31
2003 2002
-------------------------------------------------------
Revenues $ 1,926,384 2,050,525
Net loss $ (108,532) (101,091)
Earnings per share $ (.027) (.025)
Total assets $ 2,417,435 2,835,287
Stockholders' equity $ 288,292 663,141
-------------------------------------------------------
Contacts: 913-831-2055
David S. Bonsal, ext. 228
Web Site: http://www.universalmoney.com/