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Expansion of an existing bank-branding agreement, the reduction of vault-cash fees and the transitioning of more of its ATMs to in-house processing helped Cardtronics Inc. pole vault into rare territory–a quarterly profit. The Houston-based ATM independent sales organization today reported net income of $2.59 million for the second quarter ended June 30; the company reported a net loss of $3.62 million for the same three-month period last year. The company last reported a profit in the fourth quarter of 2006, Cardtronics says. Revenues for the quarter totaled $124.6 million, down 1.9% from $127 million during the same period last year. Despite the drop, the revenue total beat William Blair & Co. analyst Franco Turrinelli's forecast of $118.9 million and a consensus forecast of $118.7 million. Cardtronics says it expanded its relationship with a major bank-branding partner to include an additional 1,300 retail locations throughout the United States. The company declined to name of bank because of a confidentiality agreement. Cardtronics also continued transitioning its ATM portfolio to an in-house electronic-processing platform, but company spokesperson Joel Antonini declined to say how much money Cardtronics is saving from the move. At the end of June, Cardtronics managed or owned 33,002 ATMs, up 0.6% from 32,801 a year earlier.

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