Cardtronics Inc. announced Thursday a 375% increase in profits to $8 million for the fourth quarter from a year earlier, driven by growing revenue and higher margins.
The Houston company, which owns and maintains automated teller machines, said its fourth quarter revenue grew 8% to $134.7 million from the same period a year earlier.
It credited recent deals such as an agreement with PNC Financial Services Group Inc. to place 135 ATMs in CVS Caremark Corp. stores across Indiana. Cardtronics also added about 2,500 ATMs in Mexico to its Allpoint network.
"With our leading network of ATMs placed in prime retail locations, increased focus on driving organic transaction and revenue growth and continued operational execution, we believe that we are well-positioned to continue to create significant shareholder value," said Steven Rathgaber, Cardtronics' chief executive, in a press release.