HOUSTON -- Cardtronics has been named one of America's fastest growing privately owned companies by Inc magazine for the second year in a row.
The annual Inc 500 ranks the nation's leading entrepreneurial firms according to sales growth over the previous five years. Making the list for the second time at #66, Cardtronics achieved 2,400 percent growth over the past five years, with sales growing from $1.8 million in 1997 to $45 million in 2001. Cardtronics was listed for the first time last year at #132.
Cardtronics operates a network of more than 9,000 ATMs from coast to coast including retail outlets of Amerada Hess, Circle K Stores, ConocoPhillips and Sunoco, among others. Last week, the company acquired more than 1,200 ATMs and related agreements from Diebold, that included contracts with ExxonMobil, Barnes & Noble College Bookstores, Uni-Marts and Rite Aid. (See related story Cardtronics tips the scale with acquisition of Diebold ATMs)
Two other ATM-related companies made the list: Willoughby, Ohio-based WRG Services (see related story WRG lands on Inc 500 list) at #467 and Atlanta-based Lynk Systems at #461.
To be eligible for the Inc 500, a company had to be independent and privately held through 2001, have at least $200,000 in sales in the base year of 1997, and have sales for 2001 that exceeded their sales during 2000.
"(The Inc honor) validates our business model and demonstrates achievement of objectives through focus and teamwork. We've all worked hard to manage our rapid growth, and I'm extremely proud of everyone for their vital contributions to this effort," said Ralph Clinard, Cardtronics president and chief executive officer
Cardtronics also was recently honored for the fourth consecutive year on the Houston 100, a list of the fastest-growing businesses in Houston compiled by the University of Houston Small Business Development Center, in cooperation with the Houston Business Journal and the Greater Houston Partnership. In addition, the company was recognized for having the fifth-largest total sales volume and fifth in absolute sales increase from 1999-2001 among the companies on the list.
