November 8, 2011 / 3:26 PM / 8 years ago

Cardtronics shares rise on strong Q3 results

(Reuters) - Shares of Cardtronics Inc (CATM.O) touched their year high, after the company’s quarterly results beat Wall Street expectations, helped by higher transactions at its ATMs, prompting it to raise its full-year guidance.

Shares of the ATM and multi-line financial services kiosk provider rose 13 percent to $28.46 in early trade on Nasdaq. They later pared some of the gains to trade up 5 percent at $26.48.

On Monday, the Houston, Texas-based company said it now sees full-year adjusted profit of $1.35-$1.38 per share, up from its earlier forecast of $1.26-$1.31 per share.

Analysts were expecting $1.31 per share, according to Thomson Reuters I/B/E/S.

For the third quarter, the company’s net income rose 126 percent to $46.88 million. It posted an adjusted net income of 39 cents per share.

Revenue rose more than 20 percent to $165.1 million.

Analysts had expected earnings of 37 cents a share, on revenue of $160.1 million.

Reporting by Tanya Agrawal in Bangalore; Editing by Sriraj Kalluvila

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