Before we get started, I’d like to make the following cautionary statement regarding forward-looking information. During the course of this call, we will make certain forward-looking statements regarding future events, results, or performance. Any forward-looking statements made on this call are subject to risks and uncertainties, including but not limited to those outlined in our reports filed with the SEC. Actual events, results, or performance may differ materially. Any forward-looking statements are based on current information only and we assume no obligation to update those statements.In addition, during the course of this call, we’ll reference certain non-GAAP financial performance measures. Our opinion regarding the usefulness of such measures together with a reconciliation measures is included in the press release issued this afternoon. I’d now like to turn the call over to Steve Rathgaber, our CEO. Steve Rathgaber – Chief Executive Officer Thanks, Mitzie and welcome everyone to our update on the second quarter. Cardtronics completed another solid quarterly performance with financial results up significantly over the prior year and comfortably in line with our expectations. The financial headlines include revenue growth up 30%, 12 of the 30 points are organic growth with nine of the 12 points being core organic versus three points of equipment sales. We continue to love a business model that delivers this kind of core organic growth in these economic times. Revenue growth was complemented by adjusted EBITDA growth up 20% and adjusted net income per share growth up 12% to $0.38 per share. Although organic growth number is strong, management is particularly pleased to have delivered earnings per share of $0.38 which allows us to match our impressive in the start first quarter results despite the ramping up of expenses associated with our healthy backlog of installations and a recent headwind from Visa interchange rate reductions that started to impact us in the second quarter.
Now let me share some of the operating numbers behind the financial numbers. These are the metrics that drive our current business model forward. Let’s start with sales activity. You will recall that in the first quarter Cardtronics delivered record sales activity on behalf of our shareholders. We closed three major deals in three countries adding more than 2,000 ATMs to the Cardtronics fleet of owned ATMs.One of the attractive aspects of the Cardtronics business model is that the sale and installation is just the beginning of our profit-generating journey after the placement of the ATM kind of the branding opportunity and the second quarter is a record quarter for signing branding deals for Cardtronics. We signed branding deals for over 1700 ATMs in the US and Canada across a mix of new clients and current branding clients. Five major financial institutions are part of the mix. Let me break those down. Two of those are expanded relationships with existing domestic clients. One of the deals is a significant expansion with the key international financial institution and perhaps most importantly two are brand new relationships with top 50 financial institutions in the US. When you couple these five more significant branding deals and extended relationships with a few smaller FI deals and some organic growth with existing clients we will grow our branded ATM base by nearly 2,000 locations by the end of the third quarter. Now, not all of these deals have had press releases issued about them yet, so let me just recap several of the largest successes. We have expanded our relationship with PNC to brand almost 200 Harris Teeter locations across eight Mid-Atlantic and Southeast states with the majority to be in place by the end of the third quarter. We are building on the relationship we successfully rolled out last year with USAA and will expand the USAA brand to more than 210 additional locations across seven states by the end of the third quarter. Scotiabank which we have worked with in Puerto Rico and the Caribbean has signed with us to brand the entire 7-Eleven portfolio in Canada more than 470 ATMs.
New branding partners include BBVA Compass which will brand almost 200 ATMs in major national and regional retail locations in Colorado and Texas before the end of the third quarter. Frost Bank will brand more than 600 ATMs across Texas with the Valero Corner Store inventory of locations. We were delighted that Frost management was so excited by this deal that it became a key message in their own earnings call last Thursday and this particular deal has the additional trivia value of bringing together the three companies headquartered in Texas.Read the rest of this transcript for free on seekingalpha.com