ATM independent sales organization Cardtronics Inc. March 22 announced plans to sell 6 million shares of common stock with a 900,000-share overallotment reserved for underwriters. As of Feb. 26, Houston-based Cardtronics had 41.6 million shares outstanding, according to the company’s 10-K annual report to the Securities and Exchange Commission.

Cardtronics executives did not disclose how the company plans to use the funds from the stock sale. In February 2009, the company’s board authorized spending up to $10 million to repurchase its common stock. The repurchase plan expires March 31 unless the board extends it, according to a Cardtronics 10-K filing.

Cardtronics, which as of Dec. 31 owned or operated 33,400 ATMs in the United States, United Kingdom, Mexico and Puerto Rico, is the nation’s second largest ATM ISO. Louisville, Ky.-based Payment Alliance International, which in February purchased WRG Services Inc. of Willoughby, Ohio, is the largest, operating more than 45,000 ATM locations.

Cardtronics conducted an initial public offering Dec. 11, 2007. The company offered its stock initially at $10 per share.  In early morning trading today the share price was $10.01 on the Nasdaq exchange.

Since the IPO, Cardtronics has turned itself around. The company last month reported fourth quarter revenue of $124.8 million, up 5.6% from $118.2 million for the same three-month period in 2008. Cardtronics reported net income of $1. 7 million; it reported a $58.7 million loss in the fourth quarter of 2008.

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