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American Coin Merchandising Announces Q2 and 6 Month Results

For the second quarter of 2000, revenues rose to $30.9 million compared to $30.2 million for the same period in 1999. EBITDA increased 23.8% to $5.3 million compared to $4.3 million for the comparable period in 1999.

Operating earnings increased 37.8% to $2.1 million compared to operating earnings of $1.5 million for the comparable period in 1999.

Cash earnings for the quarter were $415,000, or $0.06 per diluted share, compared to $283,000, or $0.04 per diluted share for the same period in 1999.

Net earnings for the recent quarter were $68,000, or $0.01 per diluted share, compared to a net loss of $119,000, or $0.02 per diluted share for the same period last year.

For the six-month period, revenues rose to a record $62.4 million compared to $59.4 million for the same period in 1999. EBITDA increased 18.1% to $10.5 million compared to $8.9 million for the comparable period in 1999.

Operating earnings increased 27.4% to $4.4 million compared to operating earnings of $3.4 million for the comparable period in 1999.

Cash earnings for the six-month period were $1.0 million, or $0.15 per diluted share, compared to $838,000, or $0.13 per diluted share for the same period last year.

Net earnings for the six-month period were $308,000, or $0.05 per diluted share, compared to net earnings of $55,000, or $0.01 per diluted share for the same period last year.

``During the second quarter, we continued our focus on reducing inventory levels and achieved a $1.3 million or 11.0% reduction from inventory levels at the end of the first quarter and a $4.0 million or 27.3% decline from inventory levels at the end of 1999,'' said Randall J. Fagundo, President and Chief Executive Officer.

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