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Cardtronics Plc (CATM) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

Cardtronics Plc

CIK: 1671013 Ticker: CATM

Exhibit 99.1

 

CARDTRONICS ANNOUNCES THIRD QUARTER 2017 RESULTS

 

HOUSTON, November 2, 2017

— (GLOBE NEWSWIRE) — Cardtronics plc (Nasdaq: CATM) (“Cardtronics” or the “Company”), the world’s largest ATM owner/operator, announced today its financial and operational results for the quarter ended September 30, 2017.

 

Key financial statistics in the third quarter of 2017 as compared to the third quarter of 2016 include:

 

·                  Total revenues of $402.0 million, up 22% from $328.3 million and driven by the DCPayments and Spark acquisitions completed during January 2017.

·                  ATM operating revenues of $390.1 million, up 24% from $314.8 million.

·                  GAAP Net Loss of $(175.6) million, or $(3.84) per diluted share, compared to GAAP Net Income of $27.5 million, or $0.60 per diluted share. During the third quarter of 2017, the Company recognized asset impairments in its Australia & New Zealand segment totaling in the aggregate $216.0 million ($193.5 million net of tax).

·                  Adjusted EBITDA of $99.9 million, up 15% from $86.6 million in the prior year.

·                  Adjusted Net Income per diluted share of $0.96 down from $0.98, impacted by the additional interest and depreciation expense from the acquisitions completed during January 2017.

 

“The third quarter was a dynamic quarter where we performed well operationally under the challenges of several hurricanes and earthquakes. This quarter also marks my last earnings call as I retire at year’s end. I believe I leave behind two great assets. The first is the unique, increasingly global “neighborhood ATM” platform delivering a critical service in payments — convenient access to cash. It is a unique infrastructure platform designed for growth. The second great asset is the team now in place to lead Cardtronics to the next stage of growth. I am truly privileged to have led Cardtronics for nearly eight years. Under the leadership of my successor, Ed West, I am confident that the great potential of the Cardtronics platform will be realized for our shareholders,” commented Steve Rathgaber, Cardtronics’ chief executive officer.

 

RECENT HIGHLIGHTS

 

·                  Secured ATM operating contracts representing approximately 1,800 locations.

·                  Expanded our Allpoint Network to include 1,500 additional ATMs in Speedway convenience stores.

·                  The U.K. Competition and Markets Authority approved the Company to maintain its ownership of the U.K. operations of DCPayments.

 

Changes in currency exchange rates had an insignificant impact relative to our results in the third quarter of 2016. See Disclosure of Non-GAAP Financial Information in this earnings release for definitions of Adjusted Gross Profit, Adjusted Gross Margin, EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income per diluted share, Free Cash Flow, and certain other non-GAAP measures on a constant-currency basis. For additional information, including reconciliations to the most directly comparable financial measure recognized under accounting principles generally accepted in the U.S. (“GAAP”), see the supplemental schedules of selected financial information in this earnings release.

 

THIRD QUARTER RESULTS

 

Consolidated revenues totaled $402.0 million for the third quarter of 2017, representing a 22% increase from $328.3 million from the same period of 2016, driven by the DirectCash Payments Inc. (“DCPayments”) and Spark ATM Systems Pty Ltd. (“Spark”) acquisitions completed during January 2017. ATM operating revenues for the third quarter of 2017 were up 24% from the same period of 2016.

 

Driven primarily by the acquisitions completed during January 2017, ATM operating revenues in North America increased 12% and ATM operating revenues in Europe & Africa increased 14% from the same period of 2016. ATM operating revenues in our Australia & New Zealand segment totaled $35.4 million during the third quarter of 2017. The Company acquired the Australia & New Zealand segment via the DCPayments acquisition, completed in January 2017, and as a result, there were no comparable revenues in the third quarter of 2016.

 

GAAP Net Loss for the third quarter of 2017 totaled $175.6 million compared to GAAP Net Income of $27.5 million in the same period of 2016. The GAAP Net Loss was the result of asset impairments in the Australia & New Zealand

 

1


The following information was filed by Cardtronics Plc (CATM) on Thursday, November 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Comprehensive (loss) Income (parenthetical)
Consolidated Statements Of Operations
(loss) Earnings Per Share
(loss) Earnings Per Share (details)
(loss) Earnings Per Share (tables)
Accrued Liabilities
Accrued Liabilities (details)
Accrued Liabilities (tables)
Accumulated Other Comprehensive Loss, Net
Accumulated Other Comprehensive Loss, Net (details)
Accumulated Other Comprehensive Loss, Net (tables)
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Asset Retirement Obligation (details)
Asset Retirement Obligations
Asset Retirement Obligations (tables)
Commitments And Contingencies
Commitments And Contingencies - Other Commitments (details)
Concentration Risk
Concentration Risk (details)
Derivative Financial Instruments
Derivative Financial Instruments (details)
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Balance Sheet (details)
Derivative Financial Instruments - Statements Of Operations (details)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
General And Basis Of Presentation
General And Basis Of Presentation (details)
General And Basis Of Presentation (policies)
General And Basis Of Presentation (tables)
General And Basis Of Presentation - Goodwill And Intangible Assets (details)
General And Basis Of Presentation - Inventory, Restr Cash (details)
General And Basis Of Presentation - Restructuring (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Intangible Assets
Intangible Assets (tables)
Intangible Assets - Definite-lived (details)
Intangible Assets - Goodwill And Net Carrying Amounts (details)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Carrying Value, Convertible Notes (details)
Long-term Debt - Components Table (details)
Long-term Debt - Convertible Notes Interest Expense (details)
Long-term Debt - Instrument Details (details)
New Accounting Pronouncements
Other Liabilities
Other Liabilities (details)
Other Liabilities (tables)
Segment Information
Segment Information (tables)
Segment Information - Assets (details)
Segment Information - Certain Financial Information (details)
Segment Information - Ebitda Reconciliation (details)
Share-based Compensation
Share-based Compensation (tables)
Share-based Compensation - Income Statement (details)
Share-based Compensation - Options (details)
Share-based Compensation - Plans (details)
Share-based Compensation - Rsa, Rsu (details)
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information (tables)
Supplemental Guarantor Financial Information - Balance Sheets (details)
Supplemental Guarantor Financial Information - Cash Flows (details)
Supplemental Guarantor Financial Information - I/s (details)

Material Contracts, Statements, Certifications & more

Cardtronics Plc provided additional information to their SEC Filing as exhibits

Ticker: CATM
CIK: 1671013
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-17-008012
Submitted to the SEC: Thu Nov 02 2017 4:18:22 PM EST
Accepted by the SEC: Thu Nov 02 2017
Period: Saturday, September 30, 2017
Industry: Business Services

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