HOUSTON Cardtronics, the world’s biggest deployer of ATMs, reported an increase in fourth quarter net income to $11.2 million, from $8.2 million for the same period last year, fueled by a 14% rise in revenue.
Fourth quarter revenue was $198.4 million, compared to $165.1 million for the fourth quarter of 2011.
Cardtronics is a key electronic funds transfer switch for credit unions, with connections to the CO-OP Financial Services and Credit Union 24 networks and to dozens of credit unions through the Cardtronics subsidiary Allpoint network.
Fourth quarter highlights included expansion of the company’s Canadian business with the acquisition of Cash-Do-Cash and its 800 ATMs; a branding deal with BBVA Compass for 300 ATMs in Colorado and Texas; the addition of 1,170 ATMs.
For the full year revenue increased 25% to $780.4 million, with a 38% decline in net income to $43.6 million. The company said the main reason for the decline in annual net was a non-recurring $37 million income tax benefit recorded in the third quarter of 2011.
