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Cardtronics reports net loss
August 12, 2008
HOUSTON — Cardtronics Inc., the world's largest indpenendent ATM deployer, reported a net loss $3.4 million for the second quarter of the year, but an improved loss from the previous year. Net loss came in 40 percent lower than what it was in 2007, when the company reported losses of $5.6 million for 2Q.
Cardtronics attributed the improved performance to its acquisition of the 7-Eleven Inc. ATM portfolio. The company's portfolio now includes32,646 ATMs, up from the 25,348 terminals the company had at the end of 2Q last year.
"Cardtronics had a strong second quarter," said Jack Antonini, the company's chief executive. "While 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. We continue to see attractive growth opportunities to leverage our scale as the largest provider of financial self-service solutions."
Total 2Q 2008 revenue was $126,975,000, compared to $77,239,000 for the same period last year, an increase of 64 percent. Revenue for the first six months of the year was $247.5 million, up 63 percent from the $151.8 million reported for the first half of last year.
Net loss for the first half of the year is just less than$8 million, down 13 percent from the $9.14 million net loss reported in 2007.
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