HOUSTON, May 5, 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 ended March 31, 2014.
Key financial statistics in the first quarter of 2014 as compared to the first quarter of 2013 include:
- Total revenues of $245.1 million, up 24% from $197.7 million.
- ATM operating revenues of $238.1 million, up 23% from $193.4 million.
- Adjusted Net Income per diluted share of $0.51, up 28% from $0.40.
- Adjusted EBITDA of $56.9 million, up 17% from $48.5 million.
- GAAP net income of $9.6 million or $0.21 per diluted share, compared to $9.4 million net income or $0.21 per diluted share.
Steve Rathgaber, the company's chief executive officer commented, "Cardtronics continues to deliver strong double-digit revenue and earnings growth, and once again, our first quarter results were driven by a healthy mix of organic growth and contributions from acquisitions. We remain confident in our ability to continue to deliver solid shareholder returns through double-digit revenue and earnings growth, while also maintaining substantial focus on creating a platform for long-term sustainable growth and also managing the many challenges and risks that exist in our constantly evolving competitive and regulatory environments."RECENT HIGHLIGHTS
- Expansion of the Company's relationship with Tedeschi Food Shops, a leading U.S. convenience store chain, with the addition of 56 new store locations, bringing the total number of ATMs under this relationship to 186.
- Successful execution of a contract with East of England Co-op, a leading grocery store chain in the United Kingdom, covering over 100 high-transacting ATMs.
- Relationship extension and expansion with Pioneer Energy in Canada; previously providing ATM processing services to the petroleum retailer, Cardtronics is now Pioneer's exclusive, full-service ATM provider.
- Execution of a new ATM branding relationship with CIBC, under which the bank will brand more than 100 ATMs at Pioneer Energy locations throughout Ontario, Canada.
- Organic unit count growth in the U.S. turnkey company-owned ATM estate of 1,318 units or 5% (based on average transacting ATMs).
- Announcement that T-Mobile has partnered with the Allpoint Network to provide convenient surcharge-free access to its Mobile Money customers.
- The amendment and extension of the Company's revolving credit facility.