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Cardtronics Announces Fourth Quarter And Full-Year 2013 Results

HOUSTON, Feb. 6, 2014 (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, 2013.

Key financial statistics in the fourth quarter of 2013 as compared to the fourth quarter of 2012 include:

  • Total revenues of $241.9 million, up 22% from $198.4 million.
  • ATM operating revenues of $234.6 million, up 22% from $192.8 million.
  • Adjusted Net Income per diluted share of $0.49, up 20% from $0.41.
  • Adjusted EBITDA of $57.3 million, up 14% from $50.1 million.
  • GAAP net income of $7.5 million or $0.16 per diluted share, compared to $11.2 million net income or $0.25 per diluted share. GAAP net income was negatively impacted in the fourth quarter of 2013 by acquisition integration-related costs associated with the Company's acquisition of Cardpoint Limited ("Cardpoint") completed in August 2013.

Steve Rathgaber, the company's chief executive officer commented, "Our fourth quarter results were once again driven by strong contributions from our recent acquisitions and continued organic growth. For the full year 2013, we grew our ATM operating revenues by 15% and Adjusted Net Income per diluted share by 20%, while making investments to sustain continued growth and to further diversify our revenues and profits. Looking forward to 2014, the Company is well positioned to continue its success of delivering double-digit revenue and earnings growth."

RECENT HIGHLIGHTS

  • Multi-year extension of the contract covering over 3,200 ATMs in Walgreen's pharmacies.
  • Execution of bank branding agreements to brand over 300 ATMs in H-E-B grocery stores, with BBVA Compass and Frost Bank.
  • Successful private offering of $287.5 million of convertible senior notes due 2020.
  • Execution of an agreement with a major UK supermarket brand to place approximately 115 ATMs in its stores.
  • Long-term extension of a contract with Roadchef, a major motorway service area operator in the U.K., to continue operating ATMs in approximately 70 locations.
  • Addition of Blackhawk Network to the Allpoint Network, providing surcharge-free access to T-Mobile customers through their T-Mobile Visa Prepaid Card and Mobile Money app.
  • The announcement of the acquisition of the assets of Automated Financial, a Chandler, Arizona-based operator of approximately 2,100 ATMs.

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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