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Cardtronics Announces Fourth Quarter And Full-Year 2012 Results

Stocks in this article: CATM

HOUSTON, Feb. 7, 2013 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM) (the "Company"), the world's largest retail ATM owner, today announced its financial and operational results for the quarter and year ended December 31, 2012.

Key financial statistics in the fourth quarter of 2012 as compared to the fourth quarter of 2011 include:

  • Consolidated revenues of $198.4 million, up 14%, comprised of 11% organic growth and 3% growth from acquisitions
  • Adjusted Net Income per diluted share of $0.41, up 14% from $0.36
  • Adjusted EBITDA of $50.1 million, up 20% from $41.9 million
  • Gross Margin of 32.5%, up from 32.0%
  • Free Cash Flow of $29.9 million compared to $14.1 million
  • GAAP net income of $11.2 million or $0.25 per diluted share, compared to $8.2 million or $0.18 per diluted share

"Our adjusted earnings for the quarter were up 14%, driven by strong organic revenue growth of 11%," commented Steve Rathgaber, chief executive officer. "The fourth quarter capped off a really solid year in which we grew our revenues by 25%, with over half of that growth being organic. Our business model is evolving as we are increasingly building products and executing strategies that will drive ATM transaction volume and thereby benefit all of our partners including the retailer with more sales, the consumer with greater convenience, and the financial institution with loyalty. Looking to the year ahead, we are well-positioned for another strong organic revenue and earnings growth year, and we also expect to continue to grow through strategic acquisitions, although we remain disciplined in our approach to these transactions."


  • Further expansion of the Company's Canadian operations through the acquisition of Can-Do-Cash, a Canadian ATM operator of approximately 800 ATMs, on December 4, 2012.
  • Execution of a bank branding agreement with BBVA Compass to brand approximately 300 ATMs located in several premier retail chains in Colorado and Texas.
  • Bank branding of over 800 other new ATM locations during the quarter.
  • Net addition of over 1,170 new deployed Company-owned ATMs during the quarter.
  • Execution of a contract to place approximately 40 very high-transacting ATMs in some of the United Kingdom's busiest train stations.

Effects of foreign currency exchange rate movements had an insignificant impact on reported consolidated revenues, Adjusted EBITDA and Adjusted Net Income per diluted share during the quarter.

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