This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cardtronics Announces Second Quarter 2014 Results

Stocks in this article: CATM

HOUSTON, July 30, 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 June 30, 2014.

Key financial statistics in the second quarter of 2014 as compared to the second quarter of 2013 include:

  • Total revenues of $260.0 million, up 25% from $208.0 million.
  • ATM operating revenues of $252.1 million, up 24% from $203.6 million.
  • Adjusted Net Income per diluted share of $0.61, up 24% from $0.49.
  • Adjusted EBITDA of $64.9 million, up 20% from $53.9 million.
  • GAAP net income of $14.0 million or $0.31 per diluted share compared to $15.3 million or $0.33 per diluted share in the second quarter of 2013.

Steve Rathgaber, the company's chief executive officer commented, "Cardtronics once again delivered another quarter with strong performances on both the top line and bottom line, and with growth coming from several key parts of our business. Additionally, we are very excited about our recent announcement of the acquisition of Welch ATM, which we expect to close later in the third quarter. Welch is a well-run ATM operator with many talented employees that will provide some new competencies to help us continue to grow with both retail merchants and financial institutions."

RECENT HIGHLIGHTS

  • The announcement of the acquisition of Welch ATM, a leading ATM operator in the United States. The acquisition is expected to close later in the third quarter, subject to customary closing conditions and regulatory approval.
  • Successful execution of a contract with Petro-Canada to provide managed services to more than 500 locations in Canada and an expansion of an existing relationship with CIBC to brand these locations.
  • Expansion of our relationship with CVS, a leading U.S. drug store chain, with the addition of 375 locations.
  • Expansion of our relationship with BI-LO/Winn-Dixie, a U.S. grocery store chain, with the addition of 240 BI-LO locations.
  • Execution of an agreement with Fresh & Easy, a neighborhood supermarket brand, to place approximately 167 ATMs in its stores.
  • Expansion of our relationship with Kroger, a leading U.S. grocery store chain, with the addition of 116 locations.
  • Successful execution of a contract with Central England Co-op, a leading grocery store chain in the United Kingdom, covering over 200 high-transacting ATMs.
  • Successful private offering of $250 million of 5.125% senior notes due 2022.

Please refer to the "Disclosure of Non-GAAP Financial Information" contained later in this press release for definitions of Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income per diluted share and Free Cash Flow. For additional financial information, including reconciliations to comparable GAAP measures, please refer to the supplemental schedules of selected financial information at the end of this press release.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,088.78 +58.57 0.32%
S&P 500 2,091.52 +9.64 0.46%
NASDAQ 4,811.9780 +38.5060 0.81%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs