News
Deal with Winn-Dixie pulls Cardtronics' income into black
March 18, 2007
HOUSTON - Cardtronics Inc. reported net income of $2.4 million for the fourth quarter of 2006, compared to a net loss of $1.6 million during 4Q 2005. The company's renegotiation of $4.8 million in income, which came primarily from Winn-Dixie Stores Inc. after it pulled itself from bankruptcy, is to thank for the net improvement.
According to a news release, Cardtronics' ATM operating deal with Winn-Dixie was amended and extended through January 2016.
The terms of the deal were not disclosed.
Fourth-quarter revenue came in at $74.8 million, up 7.2 percent from 4Q '05. The year-over-year revenue increase was attributed to an increase in ATM operating revenue from Bank Machine Ltd. in the United Kingdom, a Cardtronics subsidiary. New ATM deployments and higher withdrawal transactions per ATM in the U.K. helped push the company into the black.
Revenue for the year hit $293.6 million, up 9.1 percent from $269 million in 2005.
During 2006, Cardtronics reported a net loss of $300,000 compared to a net loss of $2.4 million for the same period in 2005.
Cardtronics' average number of transacting ATMs in 4Q '06 totaled 25,417, a decrease of 3.7 percent from '05. This decrease relates to a decline in transacting ATMs, primarily on the merchant-owned side, in the United States. Withdrawal transactions increased 1.9 percent to 31.3 million because of higher withdrawals in the U.K. and incremental improvements through Company's operations in Mexico.
Average cash withdrawals per ATM per month increased 5.9 percent to 411, up from 388. Average revenues per ATM per month increased 10.4 percent to $937.
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