Cardtronics Inc. generated a 371% increase in profits, to $8 million for the fourth quarter from $1.7 million during the same period a year earlier, driven by growing revenue and higher margins, the company announced Feb. 10.
The Houston-based company, which owns and maintains ATMs, said its fourth quarter revenue grew 8%, to $134.7 million from $124.8 million.
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,” Steven Rathgaber, Cardtronics’ chief executive, said in a press release.
