ATM Giant Cardtronics Can’t Shed Red Ink

HOUSTON – ATM ISO Cardtronics, operator of the nation’s largest ATM fleet, reported Friday that losses increased in its first quarter to $3.4 million, from $3.1 million for the first quarter last year, even as revenues continued to build. The operator of 25,000 U.S. ATMs and parent of the surcharge-free Allpoint network said first quarter revenues rose 8% to $74.5 million. Cardtronics attributed some of the first quarter losses to expenses accrued to make its ATM compliant with the Triple DES security standard, as well as impairment charges related to a previously acquired ATM portfolio. First quarter highlights included the roll-out of 190 ATMs in Mexico; a multi-year branding deal with Guaranty Bank and the expansion of Allpoint to England. Cardtronics is one of several major ATM ISOs, including TRM Corp. and Global Axcess, reporting financial difficulties.