The stock is down 7.4% in post-market trading after the company behind the Redbox DVD rental kiosks reported so-so results for Q4, with a light projection for 2013. Net income of $22.9M is down 27.4% from the end of 2011, on revenues of $564.1M, +8.4%. The revenue number is short of analysts’ forecasts for $580.2M. But earnings from continuing operations, at 75 cents a share, topped expectations for 73 cents. Coinstar predicts that in the current quarter revenues could go as high as $593M with EPS from continuing operations of as much as 92 cents. Some analysts expected better: for example B. Riley’s Eric Wold expects Q1 revenues of $614.8M with EPS of $1.12. Coinstar says that Redbox accounted for $488.3M in revenues in Q4, +9.6%, with operating income of $41.2M, -11.5%. With initiatives including the new Redbox Instant By Verizon streaming service “we made strategic investments across our business this year that we believe will generate new opportunities for growth as we move through 2013 and beyond,” CEO Paul Davis says.
By DAVID LIEBERMAN, Financial Editor | Thursday February 7, 2013 @ 4:22pm ESTTags: Coinstar Earnings
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This article was printed from http://www.deadline.com/2013/02/coinstar-q4-earnings/
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