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Cardtronics Inc., the world's largest ATM independent sales organization, posted today a smaller third-quarter net loss compared with the same three-month period last year. Houston-based Cardtronics reported a third-quarter net loss of $4.2 million compared with a net loss of $10.7 million in the third quarter of 2007. Company executives blamed the red ink on a number of issues, including additional ATM deployments by Cardtronics' business units. The company owns Allpoint, the world's largest surcharge-free ATM network, Bank Machine Ltd, the United Kingdom-based independent sales organization, and Cardtronics Mexico, a Mexico City-based independent sales organization. Cardtronics generated third-quarter revenue of $127 million, up 15% compared with $110.6 million in last year's third quarter. In the third quarter of 2008, Cardtronics operated or managed 33,106 ATMs in the United States, United Kingdom and Mexico, up 11% from 29,880 ATMs last year. Total cash withdrawal transactions were 59,095 from Cardtronics' ATMs during the third quarter, up 19% compared with 49,710 last year. Each ATM dispensed an average of 595 per month per machine in the quarter, up 7% compared with an average of 555 per machine per month last year. Jack Antonini, Cardtronics CEO, said the company performed well under the current economic circumstances. "Cardtronics generated solid results for the most recent quarter despite a number of challenges, including disruptions associated with Hurricane Ike and higher interest rates resulting from the global credit crisis," Antonini said in a statement. In early morning trading, investors sold Cardtronics' stock at $3.77 per share, down $1.29 per share.
