Cardtronics Inc. (NASDAQ:CATM) Q4 2014 Earnings Conference Call - Final Transcript

Feb 04, 2015 • 05:00 pm ET

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Cardtronics Inc. (NASDAQ:CATM) Q4 2014 Earnings Conference Call - Final Transcript

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Presentation
Operator
operator

Good day, ladies and gentlemen, and welcome to the Cardtronics Fourth Quarter Earnings Conference Call. At this time, all participant lines are in a listen-only mode. But later, we will be conducting a question-and-answer session and instructions will follow at that time. (Operator Instructions) ***Part 4***

Executive
Steve Rathgaber

Thank you, Phil, and welcome everyone. I want to start today's commentary by acknowledging two significant milestones for Cardtronics. In 2014, for the first time in our history, we processed over 1 billion transactions. That volume drove the second history making milestone of 2014, Cardtronics generated over $1 billion in revenue. These two milestones flowed through the P&L to drive our strongest adjusted EPS growth quarter in the last two-and-a-half years.

Adjusted EPS was up 31% over the fourth quarter last year. Other key fourth quarter results include revenue growth of 17% and adjusted EBITDA growth of 15%. The full year 2014 results are just as impressive as the quarter. The $1.05 billion in revenues for 2014 represent 20% growth in revenues over 2013 levels. Adjusted EBITDA grew past the $0.25 billion mark, rising 16% above last year. And we added a fifth year to our four-year trend of 25% growth in adjusted EPS.

For the year and the quarter, these results were accomplished in classic Cardtronics fashion, signing new retail clients in multiple geographic regions, gathering more share from existing retail clients, attracting ***Part 5***

Executive
Phil Chin

Thanks, Andrew. Good afternoon, and welcome to Cardtronics fourth quarter conference call. On the call we have Steve Rathgaber, CEO and Chris Brewster, CFO. Steve will start off with an overview of our fourth quarter and full year developments, followed by Chris with details on our financial performance. We will then open it up for Q&A.

Before we begin, a cautionary statement regarding forward-looking information. During the course of this call, we will make certain forward-looking statements regarding future events, results or performance. Any forward-looking statements made on this call are subject to risks and uncertainties, including but not limited to those outlined in our reports filed with the SEC.

Actual events, results or performance may differ materially. The statements on this call are made as of the date of this call and based on current information even if subsequently made available by us on our website or otherwise. We assume no obligation to update any forward-looking statements made today to reflect events that occur or circumstances that exist after the date on which they were made.

In addition, during the course of this call, we will reference certain non-GAAP financial performance measures. Our opinion regarding the usefulness of such measures, together with the reconciliation of such measures, is included in the press release issued this afternoon.

With that, I turn the call over to Steve.

Operator
operator

***Part 5*** As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Phil Chin for opening remarks. Sir, you have the floor.

Executive
Steve Rathgaber

***Part6***attracting more card base to our ATMs thus driving foot traffic and