HOUSTON – Cardtronics Inc., the biggest provider of ATMs to credit unions, reported first quarter losses of $5.1 million yesterday, up from a loss of $4.6 million for the same period last year.
The first quarter loss, which was fueled by a 4% decline in revenues, included a $1.2 million severance for Jack Antonini, who was fired as the company’s CEO in March.
Cardtronics had a $57.9 million loss for the fourth quarter of 2008 and a $70 million loss for the year.
First quarter highlights include an extension of the company’s ATM placement deal with Costco, making Cardtronics machines available in 388 of the company’s U.S. stores; and the continued transition to an in-house EFT transaction processing system.
Cardtronics is the major EFT service provider for credit unions, with connections to CO-OP Financial Services, Credit Union 24 and Financial Service Centers Cooperative shared branching network. Cardtronics is also the parent of Allpoint surcharge-free ATM network.
