Cardtronics Falls Into TheRed

Register now

HOUSTOn - (02/23/06) -- Cardtronics, operator of thenation's largest fleet of ATMs, reported a loss Wednesday for itsfourth quarter of $900,000 , even as revenues were rising 13% to$70 million for the quarter, compared to the same period in 2004.Among the reasons was the roll-out of ATMs in CVS and Walgreensstores, which are in the process of ramping up to profitability,the company said. As a result, the privately held company reporteda 75% drop in fiscal year earnings to $947,000, compared to 2004,even as revenues were rising 40% to $268 million. Among the fourthquarter highlights was the acquisition of ATM National and itsAllpoint surcharge-free network, popular with credit unions.Cardtronics operates more than 26,000 ATMs across the nation, mostof them available to credit unions members via Allpoint or TheCredit Union 24 network.

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