News

Cardtronics Inc. releases Q3 earnings report

October 29, 2009

Cardtonics Inc. has announced financial results for the third quarter of 2009, ended Sept. 30.

According to a news release from Cardtronics, the company's Q3 revenues totaled $128.6 million, a one percent increase from Q3 2008. Cardtronics says the revenue increase was stifled by financial institutions' continuing struggles in a down economy:

Such increase reflects over eight percent growth in the company's international businesses, offset somewhat by a decline in the company's lower-margin, merchant-owned account based and lower equipment sales as merchants and financial institutions continued to spend less capital in the current economic environment.

Year-to-date, Cardtronics' revenue totaled $368.6 million, a two percent decline from its YTD revenue of $374.8 million in 2008. The company says the year-over-year decrease is primarily due to unfavorable foreign currency exchange rate movements, a decline in Cardtronics' merchant-owned account base and lower overall equipment sales.