Auditing Move Eats into Cardtronics

HOUSTON – Cardtronics, the world’s largest operator of ATMs, reported yesterday that an additional analysis of its books caused it to reduce net income by $200,000 for both the fourth quarter and fiscal 2006, pushing it deeper into the red. The analysis resulted in a $200,000 increase in the company’s income tax provision for the fourth quarter, and certain reclassifications of deferred assets and liabilities. As a result, Cardtronics reported a $2.2 million profit for the fourth quarter and a $531,000 loss for the fiscal year. Cardtronics is the operator of more than 25,000 ATMs and the owner of Allpoint network, the surcharge-free network popular with credit unions.

Processing Content

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER
Load More