ATM Giant Reports Losses For Fiscal FirstQuarter

July 24, 2006, 1:00 a.m. EDT 1 Min Read

HOUSTON - (07/24/06) Cardtronics, the world'slargest ATM operator and a close partner with credit unions,reported last week it had a $3.2-million loss for its fiscal firstquarter, ended March 31, and a $3.8-million loss for 2005. Revenuesfor the period rose 19% to $69.1 million. The financial report wasdisclosed publicly for the first time in documents filed with theSecurities and Exchange Commission in relation to the company'sexchange of $200 million of subordinated notes. Cardtronics alsoreported it has discontinued 1,857 of the 13,135 ATMs acquired in2005 from E*Trade because of low profit margins. Cardtronics is theparent of Allpoint the surcharge-free network popular with creditunions.

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