IMGCAP(1)]
The automated teller machine operator Cardtronics Inc. said it would have likely beaten many of its own expectations for second-quarter financial results even without the boost it got from buying a major ATM portfolio in July 2007.
The Houston company said its revenue grew 64%, to $127 million, in the second quarter from the same quarter a year earlier, though much of this could be attributed to its purchase of 7-Eleven Inc.'s automated teller machine portfolio last summer, which was not reflected in its results until July 20, 2007.
Though "the majority of the double-digit growth we experienced was due to the acquisition of the 7-Eleven ATM portfolio, our legacy U.S. operations delivered solid financial results, meeting or exceeding our internal projections for the majority of our key performance metrics," Jack Antonini, Cardtronics' chief executive, said in a press release Tuesday.
Cardtronics' net loss narrowed by 39%, to $3.4 million, from $5.6 million a year earlier.
The company moved into the red last year, in part because of higher costs for storing cash in its ATMs, it said at the time.
