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Financial News USA
May 16


Cardtronics posts 1Q profit on higher ATM revenue
News - Financial News

Cardtronics Inc., which owns and operates ATMs across the country, said Thursday that increased use of its cash machines by consumers helped push it to a better-than-expected first-quarter profit.

For the three months ended March 31, the company earned $4 million, or 9 cents per share. That compares with a loss of $5.1 million, or 13 cents per share, in the year-ago period, which included severance costs and losses on asset disposals.

Quarterly revenue was up 11 percent to $127.8 million from the first quarter of 2009. The company noted that total cash withdrawals and cash withdrawal transactions per ATM were up 6 percent and 4 percent, respectively for the quarter.

On average, analysts polled by Thomson Reuters expected a profit of 13 cents per share on revenue of $123.1 million.

For the year, the company expects a profit of 75 cents per share to 85 cents per share on revenue of $520 million to $530 million. [Read the full article]

The Greek debt crisis sent a shudder through global financial markets and served as a dramatic reminder of how vulnerable the world economy remains to the threat of a fast-spreading financial panic.

To many, market developments this week served as a spooky reminder of the fall of 2008 and the panic that spread worldwide after Lehman Brothers collapsed with disastrous consequences in September 2008.

"If people get scared that Greece could default, they are going to be scared that Portugal will default and then other countries. Once people panic, they panic about everything," said David Wyss, chief economist at Standard and Poor's in New York. [Read the full article]

It's getting more expensive to own a car -- 4.8 percent more than last year based on 15,000 miles of annual driving, according to the latest AAA Your Driving Costs study. For SUVs and minivans, the cost ran even higher.

AAA conducts its Your Driving Costs study each year to gauge how much Americans are paying to keep a car in operation. The 2010 study analyzed the cost of insurance, license and registration fees, taxes, depreciation and finance charges as well as operational costs such as fuel, maintenance and tires. For the study's results, see Bankrate's story on increased car costs.

While this study offers owners and shoppers a good rule of thumb on ownership costs, the reality is that actual costs to own and operate a car can vary widely because there are so many variables. Let's look at how to calculate the ownership costs for the car you drive daily.

Step 1: Determine your annual car costs and fees. [Read the full article]

President Barack Obama, accompanied by small business employers and employees, gestures while speaking in the Rose Garden of the White House in Washington, Friday, April 30, 2010. From left are, Itron setup-repair operator James Morris, the president and Itron President and Chief Executive Officer Malcolm Unsworth. (AP Photo/Evan Vucci)

President Barack Obama on Saturday pressed Congress for swift action on measures to restrict political advertising by corporations and labor unions, saying that "no less than the integrity of our democracy" is at stake. [Read the full article]

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