USA Technologies Announces Fourth Quarter and Fiscal Year 2013 Results
“But when youve got a team like this around you, they can make you look great.” Overcomming a daunting 8-1 race deficit, billionaire Larry Ellison ‘s boat accomplished the unthinkable, reeling off eight straight wins against the Kiwis in a best-of-19 series that saw the fastest speeds ever recorded in America’s Cup competition. Skipper Jimmy Spithill guided Ellison’s behemoth 72-foot catamaran at speeds approaching 50 miles per hour over the Bay’s choppy waters, falling behind early in the race before pouring on the speed and pulling away from Emirates Team New Zealand. Ezra Shaw/Getty Images Oracle Team USA skippered by James Spithill defeated Emirates Team New Zealand on the final race of the America’s Cup to retain the coveted trophy. “Oh man oh man, What a race!” Spithill, now a two-time America’s Cup winner, said. “It was a fantastic race. We wouldn’t have had it any other way. To come from behind, these guys just showed so much heart.” Thousands of fans who packed the San Francisco waterfront roared as Oracle Team USA crossed the finish line. The pandemoneum overshadowed what had proven a sometimes rocky event for organizers and the city hosting it. Marcio Jose Sanchez/AP The crew on Oracle Team USA celebrates after winning the 19th race against Emirates Team New Zealand to win the America’s Cup. PHOTOS: ORACLE TEAM USA WINS AMERICA’S CUP In May,36-year-old British sailor Andrew Simpson was killed after the Swedish boat he was riding on capsized and pinned him underwater for more than 10 minutes. That incident led organizers to institute a 23-knot wind restriction to avoid future crashes, but resulted in numerous cancellations on the blustery Bay. Justin Sullivan/Getty Images Oracle Team USA celebrates after defending the cup as they beat Emirates Team New Zealand to defend the America’s Cup. Still, despite the difficulties along the way, Wednesday’s victory showed the sport in its best light. Asked by reporters to describe the feeling of having pulled off one of the greatest comebacks in sports history, Spithill shared the credit with his crew. Justin Sullivan/Getty Images Oracle Team USA crushed Emirates Team New Zealand in the final race, crossing the finish line 44 seconds ahead of their rival. Its really about the team, man, Spithill said. On your own, youre nothing. But when youve got a team like this around you, they can make you look great. They did all that today and in the whole series.
At the time she contacted police, in March, Wolf was not a national figure — even though she was Miss Teen California — and lived in an apartment and attended Orange Coast College in Costa Mesa. Wolf got a Facebook alert that someone had tried to change her password to the social networking site, then noticed other passwords had been changed and that her Twitter avatar was now a half-nude picture of herself. A short time later, she received what would be the first of many messages, this one featuring pictures of Wolf at her Riverside County address and others apparently taken months earlier when she lived in Orange County, says the criminal complaint. The message explained “what’s going to happen” if Wolf didn’t send pictures or videos or “do what I tell you to do” in a five-minute Skype videoconference, according to the criminal complaint. “Either you do one of the things listed below or I upload these pics and a lot more (I have a LOT more and those are better quality) on all your accounts for everybody to see and your dream of being a model will be transformed into a pornstar (sic),” he wrote. Recalling that day, Wolf told NBC’s “Today” show she started “screaming (and) bawling my eyes out.” “I wasn’t sure what to do,” she said in August, shortly after her Miss Teen USA win. “So it was terrifying.” The messenger had taken great efforts to hide his online identity. But investigators were eventually able to find corresponding e-mails, IP addresses and other communications they linked to Abraham. They also tied him to online forums asking about malware, how to control webcams, and hacking into Facebook accounts. Investigators also linked him to at least eight other young women — some of them, like Wolf, from Southern California, though others were from as far away as Moldova. The victims told authorities similar stories: of a person they did not know saying, and in some cases proving, he had nude images and making demands as a result. The stalker claimed to have 1,000 photographs of one woman, the complaint said. When she asked, “Why are you doing this to me?” the response was, “I told you I’ll answer any questions after you Skype.” As an FBI agent was speaking by phone to this young woman, she logged onto her Instagram account to find it populated by nude pictures of her, the complaint said. A few young women apparently complied with the demands for a Skype session. The man promised not to record the sessions and he made it look like he was erasing the nude pictures of them.
Oracle Team USA completes greatest comeback in America’s Cup history, defeating Emirates New Zealand
USA Technologies Announces Fourth Quarter and Fiscal Year 2013 Results Fiscal 2013 Service Revenues Up 29%; Total Revenues Up 24% (year over year) Connections to ePort Connect Service Up 30% (year over year) Substantial Improvements in Profitability and Cash Generation Press Release: USA Technologies, Inc. 1 hour 47 minutes ago 1.90 MALVERN, Pa.–(BUSINESS WIRE)– USA Technologies, Inc. ( USAT ) (USAT), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today reported results for the fourth quarter and full fiscal year ended June 30, 2013. Fiscal 2013 financial highlights, compared to the prior year, included: 29% increase in license and transaction fee revenues to $30.0 million, representing 84% of total revenues for the 2013 fiscal year; 24% increase in total revenues to $35.9 million; Adjusted EBITDA of $5.8 million up from an Adjusted EBITDA loss of ($2.8) million; GAAP net income of $0.9 million from a GAAP net loss of ($5.2) million; and, Non-GAAP net income of $0.9 million, up from a non-GAAP net loss of ($3.8) million (fiscal 2013 excludes $0.3 million of Other income for change in fair value of warrants and $0.3 million in proxy expenses and fiscal 2012 excludes $1.8 million Other income for change in fair value of warrants and $3.2 million in proxy and separation expenses). Total connections to USATs cashless payment and M2M telemetry service, ePort Connect, grew by 30% during fiscal 2013, with 18,000 net connections achieved in the fourth quarter. In addition, USATs customer base expanded to 5,050 customers as of June 30, 2013, a 53% increase from the prior fiscal year, with 525 new customers in the fourth quarter. After accrual for preferred dividends, net earnings per common share, diluted, for fiscal 2013 was $0.01 compared to a net loss per common share of ($0.18) for Fiscal 2012. On a non-GAAP basis, net income per common share, diluted, was $0.01 for fiscal 2013, improving from a net loss per common share of ($0.14) for fiscal 2012. Cash generated from operations was $6.0 million for fiscal 2013 compared to $0.08 million for fiscal 2012, an increase due primarily to substantial improvements in operating performance over the course of fiscal 2013 when compared to 2012. Cash and cash equivalents stood at approximately $6.0 million as of June 30, 2013. Stephen P. Herbert, USA Technologies chairman and chief executive officer, commented, During fiscal 2013, we achieved tremendous improvements in profitability, while making great strides in developing new services and marketing partnerships that extend USATs capabilities across multiple channels of the small-ticket, unattended market. We continued to lead cashless payment adoption in the sizable vending market with the industrys largest menu of cashless payment services, including our MORE loyalty program and the upcoming Isis Mobile Wallet fifth vend free promotionrelatively new value-added services that we believe are only beginning to shape how a cashless payment platform can be optimized in our market segment. In addition, we took important steps toward leveraging USATs ePort Connect service platform in several other, equally opportunistic markets such as laundry, transportation and amusement in fiscal 2013.