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Article: It all adds up: as banks consolidate, Addmaster has seen sales boom for the machines that print teller receipts.(This Week: GROWTH)(Company overview)
- Article from:
- Los Angeles Business Journal
- Article date:
- March 16, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ADDMASTER Corp.'s major customers are banks, and across the United States they are either consolidating, failing or being bailed out by the federal government. But that didn't stop this Monrovia maker of receipt printing machines from registering a nearly one-third jump in sales last year.
The company has thrived in part because of the consolidation in the banking industry. As Addmaster's customers take over other banks--or get taken over themselves--they need to integrate their branch office technology. More often than not, the banks choose Addmaster's teller receipt-printing machines as they are consolidating.
Addmaster, which posted $20 million in ...
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