The Houston ATM operator reported last week net income of $6.4 million for the third quarter, compared with a $4.4 million loss a year earlier. Revenue increased 1%, to $128.6 million. It also reported 63.6 million cash withdrawals, up 8%.
Executives attributed the positive results to increased cash withdrawals with payroll cards at ATMs within its Allpoint network. Cardtronics owns Allpoint, of Bethesda, Md., which operates 35,000 surcharge-free ATMs in the United States.
"Before companies began paying employees with payroll cards, we never got their business," Rick Updyke, Cardtronics' president of global development, said during a conference call with analysts. "They would go to a check-cashing service with their paper checks."
