Cardtronics Inc. saw its net income rise 55%, to $6.5 million for the first quarter ended March 31 from $4.2 million during the same period a year earlier, the company announced April 28.
The Houston-based ATM independent sales organization attributed the growth to adding 250 machines to its existing base and reaching agreements with several retailers to deploy some 600 ATMs nationwide.
“We kicked off 2011 with a continuation of the positive revenue and earnings trends seen over the past few years,” Cardtronics CEO Steve Rathgaber said in a press release. “We won new contracts in the quarter and continued to grow our existing premier merchant account base.”
Revenues totaled $138 million, up 8% from $127.7 million.
As of March 31, the number of Cardtronics transacting ATMs increased 5.2%, to 37,034 machines worldwide from 35,195 a year earlier. Cardtronics operates ATMs in the United States, United Kingdom and Mexico.
Cardtronics’ ATMs handled 114.3 million transactions during the quarter, up 15.4% from 99 million during the same period in 2010. Total cash withdrawals were 70.3 million, up 11.9% from 62.8 million.
