Cardtronics Completes Acquisition of EDC ATM Business and Announces Second Quarter 2011 Earnings Release Date and Conference ...
July 26 2011 - 7:30AM
Cardtronics, Inc. (Nasdaq:CATM) (the "Company") today announced
that its wholly-owned subsidiary, Cardtronics USA, Inc. has
completed the acquisition of EDC ATM Subsidiary, LLC and Efmark
Deployment I, Inc. (collectively "EDC"). The cash purchase price of
$145 million was funded through borrowings under the Company's
amended credit facility.
As a result of the acquisition of EDC, Cardtronics added
approximately 3,700 ATMs in high-traffic U.S. retail
locations and ATM branding contracts with some of America's
largest financial institutions. With the completion of the
acquisition, Cardtronics now has ATM branding relationships with
eight of the 15 largest U.S. banks (by assets).
In conjunction with the funding of the EDC acquisition, the
Company amended its credit facility for certain terms, including
the following: 1) the committed credit under the facility was
expanded from $175 million to $250 million; 2) certain pricing
terms and covenants were amended to be generally more favorable to
the Company; and 3) the term of the facility was extended by one
year, through July 15, 2016.
The Company plans to update its financial guidance for 2011 to
include the expected contribution of the EDC business when it
issues its second quarter 2011 financial results, for which the
information is provided below.
Second Quarter 2011 Earnings Release
Information
The Company also announced today that it has scheduled a
conference call on Thursday, August 4, 2011, at 4:00 p.m. Central
Time (5:00 p.m. Eastern Time) to discuss the Company's financial
results for the quarter ended June 30, 2011. Results for the
quarter are expected to be released after the close of the
financial markets that day.
To access the call, please call the conference call operator at
(877) 303-9205, or the alternate dial-in at (760) 536-5226 fifteen
minutes prior to the scheduled start time, and request to be
connected to the "Cardtronics Second Quarter Earnings Conference
Call." Additionally, a live audio webcast of the conference call
will be available online through the investor relations section of
Cardtronics' website at http://www.cardtronics.com.
A digital replay of the conference call will be available
through Thursday, August 18, 2011 and can be accessed by calling
(855) 859-2056 or (404) 537-3406 and entering 85829448 for the
conference ID. A replay of the conference call will also be
available online through the Company's website subsequent to the
call through September 3, 2011.
About Cardtronics, Inc.
Cardtronics (Nasdaq:CATM) is the world's largest non-bank owner
of ATMs. The Company operates over 37,200 ATMs in the United
States, the United Kingdom, Mexico, and the Caribbean, primarily
with well-known retailers such as 7-Eleven®, Chevron®, Costco®,
CVS®/pharmacy, ExxonMobil®, Hess®, Rite Aid®, Safeway®, Target®,
and Walgreens®. Cardtronics also assists in the operation of
approximately 4,300 ATMs under managed services contracts with
customers such as Kroger®, Travelex®, and Circle K®. In addition to
its retail ATM operations, the Company provides services to large
and small banks, credit unions, and prepaid card issuers, allowing
them to place their brands on over 14,600 Cardtronics' ATMs and
providing surcharge-free access through Cardtronics' Allpoint
Network. http://www.cardtronics.com.
The Cardtronics logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=991
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements give the Company's current
expectations or forecasts of future events, future financial
performance, strategies, expectations, competitive environment,
regulation, and availability of resources. The forward-looking
statements contained in this release include, among other things,
statements concerning projections, predictions, expectations,
estimates or forecasts as to the Company's business, financial and
operational results and future economic performance, and statements
of management's goals and objectives and other similar expressions
concerning matters that are not historical facts. These
statements are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in or suggested by the forward-looking
statements. These risks and uncertainties include, but are not
limited to, the following:
- the Company's financial outlook and the financial outlook of
the ATM industry;
- the Company's ability to respond to recent and future
regulatory changes, including possible effects from the Dodd-Frank
Wall Street Reform and Consumer Protection Act which could result
in different behavior by consumers, retailers and banks;
- the Company's ability to respond to potential reductions in the
amount of interchange fees that it receives from global and
regional debit networks for transactions conducted on its
ATMs;
- the Company's ability to provide new ATM solutions to financial
institutions;
- the Company's ATM vault cash rental needs, including potential
liquidity issues with its vault cash providers;
- the implementation of the Company's corporate strategy;
- the Company's ability to compete successfully with new and
existing competitors;
- the Company's ability to renew and strengthen its existing
customer relationships and add new customers;
- the Company's ability to meet the service levels required by
its service level agreements with its customers;
- the Company's ability to pursue and successfully integrate
acquisitions;
- the Company's ability to successfully manage its existing
international operations and to continue to expand
internationally;
- the Company's ability to prevent security breaches;
- the Company's ability to manage the risks associated with its
third-party service providers failing to perform their contractual
obligations;
- the Company's ability to manage concentration risks with key
customers, vendors and service providers;
- changes in interest rates and foreign currency rates; and
- the additional risks the Company is exposed to in its armored
transport business.
Other factors that could cause the Company's actual performance
or results to differ from its projected results are described in
its filings with the Securities and Exchange Commission, including
its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K. You should not read forward-looking
statements as a guarantee of future performance or
results. They will not necessarily be accurate indications of
the times at or by which such performance or results will be
achieved. Forward-looking statements speak only as of the date
the statements are made and are based on information available at
the time those statements are made and/or management's good faith
belief as of that time with respect to future events. The
Company assumes no obligation to update forward-looking statements
to reflect actual results, changes in assumptions or changes in
other factors affecting forward-looking information.
Cardtronics and Allpoint are registered
trademarks of Cardtronics, Inc.
CONTACT: Cardtronics - Media
Nick Pappathopoulos
Director - Public Relations
832-308-4396
npappathopoulos@cardtronics.com
Cardtronics - Investors
Chris Brewster
Chief Financial Officer
832-308-4128
cbrewster@cardtronics.com
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