Q Comm International Inc., an Orem-based provider of transaction processing and electronic point-of-sale distribution services, reported Thursday that its revenues increase 47 percent in the first quarter of 2004, compared to the same period a year ago.
However, the company suffered net losses of $1.35 million, nearly double the net losses of the same quarter in 2003.
The company reported revenues of $8.49 million for the quarter, up from $5.75 million during the same quarter last year. The $1.35 million net loss included a non-case interest expense of $301,000 resulting from the amortization of discount on debt. That expense was $92,000 during the first quarter of 2003. As of March 31, 2004, all discount on debt has been amortized, the company stated, and no expenses of this nature are expected in the immediate future.