IMGCAP(1)]
ATM independent sales organization Cardtronics Inc. has cut its workforce by 8% in the United States and United Kingdom because of slumping business conditions, J. Christopher Brewster, Cardtronics chief financial officer, said during a conference call with analysts last week. Cardtronics executives declined to disclose the number of workers it employed before the company began handing out pink slips. Houston-based Cardtronics reported a net loss of $4.2 million for the third quarter ended Sept. 30. That compares with a net loss of $10.7 million during the same period a year ago. The company generated third-quarter revenue of $127 million, up 15% from $110.6 million but below analysts' expectations. Because of the cuts, Cardtronics expects to save $4.5 million to $5 million on an ongoing annual basis, Brewster says. Cardtronics is the world's largest ATM ISO based on machines owned and managed. At the end of September, the company owned 33,106 ATMs in the United States, United Kingdom and Mexico.
