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Cardtronics posts net income of 1.5M
HOUSTON (2/15/10)--Cardtronics, an owner and operator of non-bank ATMs that serves credit unions, announced that it earned a net income of $1.5 million during fourth quarter 2009. The $1.5 million income compares with a $58.5 million net loss the company had in the fourth quarter of 2008. The company attributes the growth, among other things, to its renewal of a contract with CO-OP Financial Services, which also provides ATM services to credit unions. Cardtronics also reported consolidated revenues in the fourth quarter 2009 of $124.8 million, up 6% from the fourth quarter of 2008. Revenue grew about 8% for the company’s core business operations, and gross margins increased 31%, compared with 24% in the fourth quarter of 2008. Revenue for the year ended Dec. 31 was $493.4 million. Other results Cardtronics cited:
* Total cash withdrawal transactions and cash withdrawal transactions per ATM per month increased by 8%; * Total transactions per ATM per month increased by 10%; and * ATM operating gross profit per ATM per month increased by 43%.
Cardtronics renewed its contract with CO-OP through July 2014. The contract includes ATMs located in 7-Eleven convenience stores, in which members conduct more than 3.2 million surcharge-free transactions per month, on average.


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