Cardtronics Announces Fourth Quarter and Full-Year 2012 Results

Cardtronics Announces Fourth Quarter and Full-Year 2012 Results

HOUSTON, Feb. 7, 2013 (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 and year ended December 31,
2012.

Key financial statistics in the fourth quarter of 2012 as compared to the
fourth quarter of 2011 include:

  *Consolidated revenues of $198.4 million, up 14%, comprised of 11% organic
    growth and 3% growth from acquisitions
  *Adjusted Net Income per diluted share of $0.41, up 14% from $0.36
  *Adjusted EBITDA of $50.1 million, up 20% from $41.9 million
  *Gross Margin of 32.5%, up from 32.0%
  *Free Cash Flow of $29.9 million compared to $14.1 million
  *GAAP net income of $11.2 million or $0.25 per diluted share, compared to
    $8.2 million or $0.18 per diluted share

"Our adjusted earnings for the quarter were up 14%, driven by strong organic
revenue growth of 11%," commented Steve Rathgaber, chief executive officer.
"The fourth quarter capped off a really solid year in which we grew our
revenues by 25%, with over half of that growth being organic. Our business
model is evolving as we are increasingly building products and executing
strategies that will drive ATM transaction volume and thereby benefit all of
our partners including the retailer with more sales, the consumer with greater
convenience, and the financial institution with loyalty. Looking to the year
ahead, we are well-positioned for another strong organic revenue and earnings
growth year, and we also expect to continue to grow through strategic
acquisitions, although we remain disciplined in our approach to these
transactions."

RECENT HIGHLIGHTS

  *Further expansion of the Company's Canadian operations through the
    acquisition of Can-Do-Cash, a Canadian ATM operator of approximately 800
    ATMs, on December 4, 2012.
  *Execution of a bank branding agreement with BBVA Compass to brand
    approximately 300 ATMs located in several premier retail chains in
    Colorado and Texas.
  *Bank branding of over 800 other new ATM locations during the quarter.
  *Net addition of over 1,170 new deployed Company-owned ATMs during the
    quarter.
  *Execution of a contract to place approximately 40 very high-transacting
    ATMs in some of the United Kingdom's busiest train stations.

Effects of foreign currency exchange rate movements had an insignificant
impact on reported consolidated revenues, Adjusted EBITDA and Adjusted Net
Income per diluted share during the quarter.

The results of operations include the results of Can-Do-Cash since December 4,
2012, which is the date that the acquisition closed, which had an immaterial
impact on the consolidated results for both the quarter and the year.

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.

FOURTH QUARTER RESULTS

For the fourth quarter of 2012, consolidated revenues totaled $198.4 million,
representing a 14% increase from the $174.2 million in consolidated revenues
generated during the fourth quarter of 2011. Organic growth in the quarter
accounted for 11% of the growth and was primarily attributable to the
following: (1) increased transactions per ATM in the Company's United States
and United Kingdom operations; (2) unit growth expansion; (3) increased
revenues from managed services agreements; (4) increased bank branding
revenues from financial institution partners; and (5) growth of the Allpoint
network. Partially offsetting the increases in organic revenue were a decline
in interchange revenue per transaction as a result of rate reductions by a
major interbank network and transaction volume shifts to networks that pay
lower interchange rates, and lower equipment sales revenues. The remaining 3%
of revenue growth was driven by businesses acquired during the fourth quarter
of 2011 and during 2012.

Adjusted EBITDA for the fourth quarter of 2012 totaled $50.1 million, compared
to $41.9 million during the fourth quarter of 2011, and Adjusted Net Income
totaled $18.3 million ($0.41 per diluted share) compared to $15.6 million
($0.36 per diluted share) during the fourth quarter of 2011. The increases in
Adjusted EBITDA and Adjusted Net Income per diluted share were positively
affected by the incremental revenues attributable to ATMs acquired during the
fourth quarter of 2011 and during 2012, as well as the organic revenue growth
described above. Specific costs excluded from Adjusted EBITDA and Adjusted Net
Income are detailed in a reconciliation included at the end of this press
release.

GAAP Net Income for the fourth quarter of 2012 totaled $11.2 million, compared
to $8.2 million during the same quarter in 2011. GAAP Net Income before income
taxes increased $4.6 million from the fourth quarter of 2011 due to the same
factors impacting Adjusted EBITDA discussed above.

FULL-YEAR RESULTS

For the year ended December 31, 2012, consolidated revenues totaled $780.4
million, representing a 25% increase from the $624.6 million in consolidated
revenues generated during the same period in 2011. Growth from acquisitions
accounted for 12% of the increase in consolidated revenues for the year.
Organic growth of 13% was attributable to a combination of increases in
transactions per ATM, unit growth expansion, increased revenues from managed
services agreements, higher bank branding revenues, growth in Allpoint, and
higher equipment sales. As was the case with the fourth quarter results, the
increases in organic revenue during the year ended December 31, 2012 were
partially offset by the interchange rate reductions discussed above.

Adjusted EBITDA totaled $189.5 million for the year ended December 31, 2012,
representing a 21% increase over the $156.3 million in Adjusted EBITDA for the
same period in 2011. Adjusted Net Income totaled $70.6 million ($1.61 per
diluted share) for 2012, up 21% on a per share basis from $58.5 million ($1.37
per diluted share) during the same period in 2011. The increases in Adjusted
EBITDA and Adjusted Net Income were primarily due to the same factors noted
above for the Company's fourth quarter results.

GAAP Net Income for the year ended December 31, 2012 totaled $43.6 million,
compared to $70.2 million during 2011. The year-over-year decrease in GAAP Net
Income is primarily attributable to a non-recurring $37.0 million income tax
benefit recorded in the third quarter of 2011. GAAP Income before income taxes
for the year ended December 31, 2012 was up 23% over 2011.

2013 GUIDANCE

Below is the Company's financial guidance for the year ending December 31,
2013:

  oRevenues of $835.0 million to $850.0 million;
  oOverall gross margins of approximately 32.0% to 32.3%;
  oAdjusted EBITDA of $202.0 million to $209.0 million;
  oDepreciation and accretion expense of approximately $64.0 million to $65.5
    million, net of noncontrolling interests;
  oCash interest expense of approximately $20.0 million to $20.5 million, net
    of noncontrolling interests;
  oAdjusted Net Income of $1.72 to $1.79 per diluted share, based on
    approximately 44.7 million weighted average diluted shares outstanding;
    and
  oCapital expenditures of approximately $70.0 million, net of noncontrolling
    interests.

For reconciliations of Adjusted EBITDA and Adjusted Net Income per diluted
share, please refer to the supplemental schedules at the end of this release.

The Adjusted EBITDA and Adjusted Net Income guidance excludes the impact of
certain expenses, as outlined in the reconciliation provided at the end of
this press release. Additionally, this guidance is based on average foreign
currency exchange rates of $1.60 U.S. to £1.00 U.K., $13.00 Mexican pesos to
$1.00 U.S., and $1.00 Canadian dollar to $1.00 U.S.

LIQUIDITY

The Company believes that it continues to maintain a strong liquidity
position, with $96.0 million in available borrowing capacity under its $250.0
million revolving credit facility as of December 31, 2012. In addition, the
size of the amended credit facility can be increased to $325.0 million under
certain conditions. The Company's outstanding indebtedness as of December 31,
2012 consisted of $200.0 million in senior subordinated notes due 2018, $152.0
million in borrowings under its revolving credit facility due 2016, and $2.8
million in equipment financing notes associated with its majority-owned Mexico
subsidiary.

DISCLOSURE OF NON-GAAP FINANCIAL INFORMATION

Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income per diluted share
and Free Cash Flow are non-GAAP financial measures provided as a complement to
results prepared in accordance with accounting principles generally accepted
within the United States of America ("GAAP") and may not be comparable to
similarly-titled measures reported by other companies. Management believes
that the presentation of these measures and the identification of unusual,
non-recurring, or non-cash items enhance an investor's understanding of the
underlying trends in the Company's business and provide for better
comparability between periods in different years.

Adjusted EBITDA excludes depreciation, accretion, and amortization expense as
these amounts can vary substantially from company to company within the
Company's industry depending upon accounting methods and book values of
assets, capital structures, and the method by which the assets were acquired.
Adjusted EBITDA also excludes acquisition-related costs, certain other
non-operating costs, loss on asset disposal, the Company's obligations for the
payment of income taxes, interest expense or other obligations such as capital
expenditures, and an adjustment for noncontrolling interest. Adjusted Net
Income represents net income computed in accordance with GAAP, before
amortization expense, loss on disposal of assets, stock-based compensation
expense and certain other expense (income) and acquisition-related costs, and
using an assumed 35% tax rate, with certain adjustments for noncontrolling
interests. Adjusted Net Income per diluted share is calculated by dividing
Adjusted Net Income by average weighted diluted shares outstanding calculated
in accordance with GAAP. Free Cash Flow is defined as cash provided by
operating activities less payments for capital expenditures, including those
financed through direct debt but excluding acquisitions. The measure of Free
Cash Flow does not take into consideration certain other non-discretionary
cash requirements such as, for example, mandatory principal payments on
portions of the Company's long-term debt.

The non-GAAP financial measures presented herein should not be considered in
isolation or as a substitute for operating income, net income, cash flows from
operating, investing, or financing activities, or other income or cash flow
measures prepared in accordance with GAAP. Reconciliations of the non-GAAP
financial measures used herein to the most directly comparable GAAP financial
measures are presented in tabular form at the end of this press release.

CONFERENCE CALL INFORMATION

The Company will host a conference call today, Thursday, February 7, 2013, at
4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss its financial
results for the quarter and the year ended December 31, 2012. To access the
call, please call the conference call operator at:

Dial in:             (877) 303-9205
Alternate dial-in:  (760) 536-5226

Please call in fifteen minutes prior to the scheduled start time and request
to be connected to the "Cardtronics Fourth Quarter Earnings Conference Call."
Additionally, a live audio webcast of the conference call will be available
online through the investor relations section of the Company's website at
www.cardtronics.com.

A digital replay of the conference call will be available through Thursday,
February 21, 2013, and can be accessed by calling (855) 859-2056 or (404)
537-3406 and entering 86036091 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 March 8, 2013.

ABOUT CARDTRONICS(Nasdaq:CATM)

Making ATM cash access convenient where people shop, work and live their
lives, Cardtronics is at the convergence of retailers, financial institutions,
prepaid card programs and the customers they share. Cardtronics owns/operates
approximately 62,800 retail ATMs in U.S. and international locales. Whether
Cardtronics is driving foot traffic for America's most relevant retailers,
enhancing ATM brand presence for card issuers or expanding card holders'
surcharge-free cash access on the local, national or global scene, Cardtronics
is convenient access to cash, when and where consumers need it. Cardtronics is
where cash meets commerce.

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;
  *the Company's ability to respond to potential reductions in the amount of
    net interchange fees that it receives from global and regional debit
    networks for transactions conducted on its ATMs due to pricing changes
    implemented by those networks as well as changes in how issuers route
    their ATM transactions over those networks;
  *the Company's ability to provide new ATM solutions to retailers and
    financial institutions;
  *the Company's ATM vault cash rental needs, including potential liquidity
    issues with its vault cash providers;
  *the continued 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;
  *the additional risks the Company is exposed to in its U.K. armored
    transport business; and
  *the Company's ability to retain its key employees.

Additional information regarding known material 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.

Consolidated Statements of Operations
For the Three and Twelve Months Ended December 31, 2012 and 2011
(Unaudited)
                                                                
                                  Three Months Ended    Twelve Months Ended
                                   December 31,          December 31,
                                  2012       2011       2012       2011
                                  (In thousands, except share and per share
                                   information)
Revenues:                                                        
ATM operating revenues             $192,813 $165,055 $743,662 $597,219
ATM product sales and other        5,547      9,127      36,787     27,357
revenues
Total revenues                     198,360    174,182    780,449    624,576
Cost of revenues:                                                
Cost of ATM operating revenues
(excludes depreciation, accretion, 128,370    110,717    502,682    396,347
and amortization shown separately
below)
Cost of ATM product sales and      5,480      7,706      33,405     23,768
other revenues
Total cost of revenues             133,850    118,423    536,087    420,115
Gross profit                       64,510     55,759     244,362    204,461
Operating expenses:                                              
Selling, general, and              17,569     15,881     65,525     55,582
administrative expenses
Acquisition-related expenses       1,474      3,448      3,332      4,747
Depreciation and accretion expense 17,256     12,958     61,499     47,962
Amortization expense               5,260      5,674      21,712     17,914
Loss on disposal of assets         1,003      701        1,787      981
Total operating expenses           42,562     38,662     153,855    127,186
Income from operations             21,948     17,097     90,507     77,275
Other expense (income):                                          
Interest expense, net              5,195      5,306      21,161     20,116
Amortization of deferred financing 227        218        896        993
costs
Other income                       (733)      (1,062)    (1,821)    (804)
Total other expense                4,689      4,462      20,236     20,305
Income before income taxes         17,259     12,635     70,271     56,970
Income tax expense (benefit)       6,325      4,589      27,009     (13,176)
Net income                         10,934     8,046      43,262     70,146
Net loss attributable to           (267)      (107)      (329)      (87)
noncontrolling interests
Net income attributable to
controlling interests and          $11,201  $8,153   $43,591  $70,233
available to common stockholders
                                                                
Net income per common share –      $0.25    $0.18    $0.97    $1.60
basic
Net income per common share –      $0.25    $0.18    $0.96    $1.58
diluted
                                                                
Weighted average shares            43,873,526 42,794,563 43,469,175 42,201,491
outstanding – basic
Weighted average shares            44,153,157 43,352,237 43,875,332 42,886,780
outstanding – diluted


Condensed Consolidated Balance Sheets
As of December 31, 2012 and 2011
                                                           
                                          December 31, 2012 December 31, 2011
                                                           
                                          (In thousands)
Assets                                                      
Current assets:                                             
Cash and cash equivalents                 $13,861         $5,576
Accounts and notes receivable, net        45,135            40,867
Inventory                                 4,389             3,517
Restricted cash, short-term               8,298             4,512
Current portion of deferred tax asset,     13,193            26,902
net
Prepaid expenses, deferred costs, and      30,980            13,056
other current assets
Total current assets                      115,856           94,430
Property and equipment, net               236,238           191,331
Intangible assets, net                    102,573           111,603
Goodwill                                  285,696           271,562
Deferred tax asset, net                   32,108            23,101
Prepaid expenses, deferred costs, and      2,168             20,774
other assets
Total assets                              $774,639        $712,801
                                                           
Liabilities and Stockholders' Equity                        
Current liabilities:                                        
Current portion of long-term debt and      $1,467          $2,317
notes payable
Current portion of other long-term         24,386            25,101
liabilities
Accounts payable and other accrued and     102,991           112,212
current liabilities
Total current liabilities                 128,844           139,630
Long-term liabilities:                                      
Long-term debt                            353,352           368,632
Asset retirement obligations              44,696            34,517
Other long-term liabilities               98,943            56,877
Total liabilities                         625,835           599,656
Stockholders' equity                      148,804           113,145
Total liabilities and stockholders'        $774,639        $712,801
equity

                                                         
SELECTED INCOME STATEMENT DETAIL:                                         
                                                         
Total revenues by segment:                                
                                                         
                              Three Months Ended  Twelve Months Ended
                               December 31,        December 31,
                              2012      2011      2012      2011
                              (In thousands)
                                                         
United States                  $ 154,603 $ 142,438 $ 626,152 $ 501,328
United Kingdom                 33,395    25,536    117,814   97,665
Other International            10,362    6,208     36,483    25,583
Total revenues                 $ 198,360 $ 174,182 $ 780,449 $ 624,576
                                                         
Breakout of ATM operating                                 
revenues:
                                                         
                              Three Months Ended  Twelve Months Ended
                               December 31,        December 31,
                              2012      2011      2012      2011
                              (In thousands)
                                                         
Surcharge revenues             $ 88,408  $ 78,561  $ 351,059 $ 290,501
Interchange revenues           63,750    54,180    241,641   189,587
Bank branding and
surcharge-free network         32,571    25,497    119,490   93,449
revenues
Managed services revenues      4,269     3,201     16,269    10,476
Other revenues                 3,815     3,616     15,203    13,206
Total ATM operating revenues   $ 192,813 $ 165,055 $ 743,662 $ 597,219
                                                         
Total cost of revenues by                                 
segment:
                                                         
                              Three Months Ended  Twelve Months Ended
                               December 31,        December 31,
                              2012      2011      2012      2011
                              (In thousands)
                                                         
United States                  $ 99,222  $ 93,360  $ 414,148 $ 325,394
United Kingdom                 26,202    20,152    93,030    75,109
Other International            8,426     4,911     28,909    19,612
Total cost of revenues         $ 133,850 $ 118,423 $ 536,087 $ 420,115

                                                           
Breakout of cost of ATM operating revenues (exclusive of depreciation,  
accretion, and amortization):
                                                         
                          Three Months Ended     Twelve Months Ended
                           December 31,           December 31,
                          2012       2011        2012       2011
                          (In thousands)
                                                         
Merchant commissions       $61,701  $52,230   $242,569  $186,043
Vault cash rental expense  12,378     11,624      49,258     40,818
Other costs of cash        18,077     15,814      68,406     55,159
Repairs and maintenance    12,214     11,815      51,977     41,474
Communications             5,510      4,835       21,313     17,563
Transaction processing     1,943      1,466       8,088      4,833
Stock-based compensation   176        134         930        903
Other expenses             16,371     12,799      60,141     49,554
Total cost of ATM          $128,370  $110,717  $502,682  $396,347
operating revenues
                                                         
Breakout of selling, general, and administrative expenses:                
                                                         
                          Three Months Ended     Twelve Months Ended
                           December 31,           December 31,
                          2012       2011        2012       2011
                          (In thousands)
                                                         
Employee costs            $9,470   $7,585    $33,927  $27,971
Stock-based compensation  2,243      2,194       10,180     8,421
Professional fees         1,734      2,405       7,255      7,348
Other                     4,122      3,697       14,163     11,842
Total selling, general,
and administrative         $17,569  $15,881   $65,525  $55,582
expenses
                                                         
Depreciation and accretion expense by segment:                            
                                                         
                          Three Months Ended     Twelve Months Ended
                           December 31,           December 31,
                          2012       2011        2012       2011
                          (In thousands)
                                                         
United States              $10,371  $7,906    $37,837  $28,698
United Kingdom             5,754      4,334       19,894     16,194
Other International        1,131      718         3,768      3,070
Total depreciation and     $17,256  $12,958   $61,499  $47,962
accretion expense

                                                       
SELECTED BALANCE SHEET DETAIL:                                              
                                                       
Long-term debt:                                         
                                                       
                                      December 31, 2012 December 31, 2011
                                      (In thousands)
8.25% senior subordinated notes       $200,000        $200,000
Revolving credit facility             152,000           166,000
Equipment financing notes             2,819             4,949
Total long-term debt                  $354,819        $370,949
                                                       
                                                       
Share count rollforward:                                
                                                       
Total shares outstanding as of                          43,999,443
December 31, 2011
Shares repurchased                                     (176,255)
Shares issued – restricted stock
grants and conversions and stock                        821,386
options exercised
Shares vested – restricted stock units                  2,500
Shares forfeited – restricted stock                    (5,850)
Total shares outstanding as of                          44,641,224
December 31, 2012

                                                         
SELECTED CASH FLOW DETAIL:                                                
                                                         
Selected cash flow statement amounts:                                     
                                                         
                              Three Months Ended  Twelve Months Ended
                               December 31,        December 31,
                              2012      2011      2012      2011
                              (In thousands)
                                                         
Cash provided by operating     $ 42,063 $ 43,973 $136,388 $113,325
activities
Cash used in investing         (15,287)  (53,767)  (113,764) (234,454)
activities
Cash (used in) provided by     (24,092)  10,161    (14,084)  123,532
financing activities
Effect of exchange rate        80        3         (255)     (16)
changes on cash
Net increase in cash and cash  2,764     370       8,285     2,387
equivalents
Cash and cash equivalents at   11,097    5,206     5,576     3,189
beginning of period
Cash and cash equivalents at   $ 13,861 $5,576  $13,861 $5,576
end of period


Key Operating Metrics – Excluding Acquisitions in All Periods Presented
For the Three and Twelve Months Ended December 31, 2012 and 2011
(Unaudited)
                                                                
The following table excludes the effects of the acquisitions in the three and
twelve month periods ended December 31, 2012 for comparative purposes:
                                                                
EXCLUDING ACQUISITIONS         Three Months Ended      Twelve Months Ended
                               December 31,            December 31,
                              2012        2011        2012         2011
Average number of transacting                                    
ATMs:
United States: Company-owned  26,765      24,161      22,949       21,125
United Kingdom                4,298       3,467       3,999        3,255
Mexico                        2,745       2,874       2,797        2,897
Canada                         854         342         338          105
Subtotal                      34,662      30,844      30,083       27,382
United States: Merchant-owned 11,856      13,789      8,482        9,934
Average number of transacting  46,518      44,633      38,565       37,316
ATMs: ATM operations
                                                                
United States: Managed         5,744       4,731       5,257        4,319
services ^(1)
United Kingdom: Managed        21          21          21           18
services
Canada: Managed services      —          —          —           —
Average number of transacting  5,765       4,752       5,278        4,337
ATMs: Managed services
                                                                
Total average number of        52,283      49,385      43,843       41,653
transacting ATMs
                                                                
Total transactions (in                                           
thousands):
ATM operations                184,253     149,837     640,391      516,564
Managed services              9,797       7,173       36,722       26,107
Total transactions            194,050     157,010     677,113      542,671
                                                                
Total cash withdrawal                                            
transactions (in thousands):
ATM operations                112,175     93,413      396,178      318,615
Managed services              6,142       4,600       22,971       17,241
Total cash withdrawal          118,317     98,013      419,149      335,856
transactions
                                                                
Per ATM per month amounts                                        
(excludes managed services):
Cash withdrawal transactions  804         698         856          712
                                                                
ATM operating revenues        $1,313    $1,209    $1,410     $1,310
Cost of ATM operating revenues 871         808         937          866
^ (2)
ATM operating gross profit     $442      $401      $473       $444
^(2) (3)
                                                                
ATM operating gross margin     33.7 %      33.2 %      33.5 %       33.9 %
^(2) (3)
___________________                                              
                                                                
^(1)^ Includes 2,752 and 2,564 ATMs for the three months ended December 31,
2012 and 2011, respectively, and 2,679 and 2,523 ATMs for the twelve months
ended December 31, 2012 and 2011, respectively, for which the Company only
provided EFT transaction processing services.
^(2)^ Amounts presented exclude the effect of depreciation, accretion, and
amortization expense, which is presented separately in the Company's
consolidated statements of operations.
^(3)^ ATM operating gross profit and ATM operating gross profit margin are
measures of profitability that are calculated based on only the revenues and
expenses that relate to operating ATMs in the Company's portfolio. Revenues
and expenses relating to managed services and ATM equipment sales and other
ATM-related services are not included.


Key Operating Metrics – Including Acquisitions in All Periods Presented
For the Three and Twelve Months Ended December 31, 2012 and 2011
(Unaudited)
                                                                
INCLUDING ACQUISITIONS         Three Months Ended      Twelve Months Ended
                               December 31,            December 31,
                              2012        2011        2012         2011
Average number of transacting                                    
ATMs:
United States: Company-owned  27,177      24,161      26,049       21,125
United Kingdom                4,298       3,467       3,999        3,255
Mexico                        2,745       2,874       2,797        2,897
Canada                         1,214       342         851          105
Subtotal                      35,434      30,844      33,696       27,382
United States: Merchant-owned 20,554      13,789      17,773       9,934
Average number of transacting  55,988      44,633      51,469       37,316
ATMs: ATM operations
                                                                
United States: Managed         6,023       4,731       5,928        4,319
services
United Kingdom: Managed        21          21          21           18
services
Canada: Managed services      98          —          25           —
Average number of transacting  6,142       4,752       5,974        4,337
ATMs: Managed services^(1)
                                                                
Total average number of        62,130      49,385      57,443       41,653
transacting ATMs
                                                                
Total transactions (in                                           
thousands):
ATM operations                190,895     149,837     704,879      516,564
Managed services              10,166      7,173       39,786       26,107
Total transactions            201,061     157,010     744,665      542,671
                                                                
Total cash withdrawal                                            
transactions (in thousands):
ATM operations                117,038     93,413      443,381      318,615
Managed services              6,426       4,600       25,217       17,241
Total cash withdrawal          123,464     98,013      468,598      335,856
transactions
                                                                
Per ATM per month amounts                                        
(excludes managed services):
Cash withdrawal transactions  696         698         718          712
                                                                
ATM operating revenues        $1,121    $1,209    $1,177     $1,310
Cost of ATM operating revenues 742         808         792          866
^ (2)
ATM operating gross profit     $379      $401      $385       $444
^(2) (3)
                                                                
ATM operating gross margin     33.8 %      33.2 %      32.7 %       33.9 %
^(2) (3)
___________________                                              
                                                                
^(1)^ Includes 2,850 and 2,564 ATMs for the three months ended December 31,
2012 and 2011, respectively, and 2,704 and 2,523 ATMs for the twelve months
ended December 31, 2012 and 2011, respectively, for which the Company only
provided EFT transaction processing services.
^(2)^ Amounts presented exclude the effect of depreciation, accretion, and
amortization expense, which is presented separately in the Company's
consolidated statements of operations.
^(3)^ ATM operating gross profit and ATM operating gross profit margin are
measures of profitability that are calculated based on only the revenues and
expenses that relate to operating ATMs in the Company's portfolio. Revenues
and expenses relating to managed services and ATM equipment sales and other
ATM-related services are not included.


Key Operating Metrics – Ending Machine Count
As of December 31, 2012 and 2011
(Unaudited)
                                                              
                                               As of December 31,
Ending number of transacting ATMs:              2012            2011
United States: Company-owned                   27,573          24,590
United Kingdom                                 4,307           3,505
Mexico                                         2,729           2,847
Canada                                         1,549           512
Subtotal                                       36,158          31,454
United States: Merchant-owned                  20,237          16,651
Ending number of transacting ATMs: ATM          56,395          48,105
operations
                                                              
United States: Managed services                 6,050           4,759
United Kingdom: Managed services               21              22
Canada: Managed services                       294             —
Ending number of transacting ATMs: Managed      6,365           4,781
services^(1)
                                                              
Total ending number of transacting ATMs        62,760          52,886
___________________                                            
                                                              
^(1)^ Includes 3,052 and 2,590 ATMs as of December 31, 2012 and 2011,
respectively for which the Company only provided EFT transaction processing
services. Also includes 817 ATMs that as of December 31, 2011, were reported
in the United States Merchant-owned category.


Reconciliation of Net Income Attributable to Controlling Interests to
EBITDA, Adjusted EBITDA, and Adjusted Net Income
For the Three and Twelve Months Ended December 31, 2012 and 2011
(Unaudited)
                                                           
                       Three Months Ended        Twelve Months Ended
                        December 31,             December 31,
                       2012         2011         2012         2011
                       (In thousands, except share and per share amounts)
Net income attributable
to controlling          $11,201    $8,153     $43,591    $70,233
interests
Adjustments:                                                
Interest expense, net   5,195        5,306        21,161       20,116
Amortization of
deferred financing      227          218          896          993
costs
Income tax expense      6,325        4,589        27,009       (13,176)
(benefit)
Depreciation and        17,256       12,958       61,499       47,962
accretion expense
Amortization expense    5,260        5,674        21,712       17,914
EBITDA                 $45,464    $36,898    $175,868   $144,042
                                                           
Add back:                                                   
Loss on disposal of     1,003        701          1,787        981
assets
Other income^(1)       (732)        (1,070)      (1,830)      (849)
Noncontrolling          (451)        (431)        (1,668)      (1,897)
interests ^(2)
Stock-based
compensation expense    2,408        2,315        11,072       9,283
^(3)
Acquisition-related     1,474        3,448        3,332        4,747
costs ^(4)
Other adjustments to
selling, general, and   972          —           972          —
administrative expenses
^(5)
Adjusted EBITDA         $50,138    $41,861    $189,533   $156,307
Less:                                                       
Interest expense, net   5,161        5,243        20,990       19,771
^(3)
Depreciation and        16,857       12,613       59,983       46,465
accretion expense ^(3)
Adjusted pre-tax income 28,120       24,005       108,560      90,071
Income tax expense (at  9,842        8,402        37,996       31,525
35%) ^(6)
Adjusted Net Income     $18,278    $15,603    $70,564    $58,546
                                                           
Adjusted Net Income per $0.42      $0.36      $1.62      $1.39
share
Adjusted Net Income per $0.41      $0.36      $1.61      $1.37
diluted share
                                                           
Weighted average shares 43,873,526   42,794,563   43,469,175   42,201,491
outstanding - basic
Weighted average shares 44,153,157   43,352,237   43,875,332   42,886,780
outstanding - diluted
                                                           
_______________                                             
                                                           
^(1)^ Amounts exclude unrealized and realized (gains) losses related to
derivatives not designated as hedging instruments.
^(2)^ Noncontrolling interests adjustment made such that Adjusted EBITDA
includes only the Company's 51% ownership interest in the Adjusted EBITDA
of its Mexico subsidiary.
^(3)^ Amounts exclude 49% of the expenses incurred by the Company's
Mexico subsidiary as such amounts are allocable to the noncontrolling
interest stockholders.
^(4)^ Acquisition-related costs include non-recurring costs incurred for
professional and legal fees and certain transition and integration-related
costs, related to recent acquisitions.
^(5)^ Amount related to severance costs associated with the departure of
the Company's former U.K. Managing Director in November 2012.
^(6)^ 35% represents the Company's estimated long-term,                    
cross-jurisdictional effective cash tax rate.


Reconciliation of Free Cash Flows
For the Three and Twelve Months Ended December 31, 2012 and 2011
(Unaudited)
                                                                 
                                      Three Months Ended  Twelve Months Ended
                                       December 31,        December 31,
                                      2012      2011      2012      2011
                                      (In thousands)
Cash provided by operating activities  $ 42,063 $ 43,973 $136,388 $113,325
Payments for capital expenditures:                                
Cash used in investing activities,     (12,211)  (29,827)  (92,803)  (66,886)
excluding acquisitions
Free cash flow                         $ 29,852 $ 14,146 $43,585 $46,439


Reconciliation of Estimated Net Income to EBITDA, Adjusted EBITDA, and
Adjusted Net Income
For the Year Ending December 31, 2013
(Unaudited)
                                                                
                                          Estimated Range
                                           Full Year 2013
                                                                
                                          (In millions, except per share
                                           information)
                                                                
Net income                                $49.4           --    $51.8
Adjustments:                                                     
Interest expense, net                     20.2              --    20.7
Amortization of deferred financing costs  0.9               --    0.9
Income tax expense                        30.3              --    31.8
Depreciation and accretion expense        65.5              --    67.0
Amortization expense                      23.0              --    23.0
EBITDA                                    $189.3          --    $195.2
                                                                
Add back:                                                        
Noncontrolling interests                  (1.8)             --    (1.7)
Loss on disposal of assets                1.0               --    1.0
Stock-based compensation expense          11.5              --    12.5
Acquisition-related costs                2.0               --    2.0
Adjusted EBITDA                           $202.0          --    $209.0
Less:                                                           
Interest expense, net ^(1)                 20.0              --    20.5
Depreciation and accretion expense ^(1)    64.0              --    65.5
Income tax expense (at 35%) ^(2)           41.3              --    43.0
Adjusted Net Income                       $76.7           --    $80.0
                                                                
Adjusted Net Income per diluted share     $1.72             --    $1.79
                                                                
Weighted average shares outstanding –      44.7              --    44.7
diluted
__________________                                              
                                                                
^(1)Amounts exclude 49% of the expenses to be incurred by the Company's Mexico
subsidiary as such amounts are allocable to the noncontrolling interest
shareholders.
^(2) 35% represents the Company's estimated long-term,            
cross-jurisdictional effective cash tax rate.

Contact Information:             
                                
Cardtronics — Media              Cardtronics — Investors
Nick Pappathopoulos              Chris Brewster
Director – Public Relations      Chief Financial Officer
832-308-4396                     832-308-4128
npappathopoulos@cardtronics.com  cbrewster@cardtronics.com

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