Skip to main content

Originally published Thursday, February 7, 2013 at 3:06 PM

  • Share:
  • Comments (5)
  • Print

Coinstar profit drops in 4Q

Bellevue-based Coinstar’s fourth-quarter profit fell 27 percent due to poor performance at its new ventures.

The Associated Press

Most Popular Comments
Hide / Show comments
Coinstar sucks. Their coin counting machines are crap. You can go to a bank or... MORE
People pay with cash less and less, therefore they have less change floating around to... MORE
Redbox is also becoming a joke. Ain't it the truth! I was a customer of theirs for... MORE


Coinstar’s fourth-quarter profit fell 27 percent due to poor performance at its new ventures. The Bellevue company forecast disappointing earnings ahead, and its shares tumbled in after-hours trading Thursday.

The company owns the Redbox DVD kiosks and its namesake coin-counting sites. It also offers DVD rentals through additional kiosks that it acquired from NCR in June. Coinstar recently expanded its business to include streaming movies, a ticket-selling service and kiosk coffee dispensers. The new ventures took a toll on profitability during the quarter.

Net income was $22.9 million, or 75 cents a share, for the quarter that ended Dec. 31. That’s down from $31.5 million, or $1 a share, in the same quarter a year ago. Sales rose 8.4 percent to $564.1 million on gains at Redbox kiosks.

Analysts forecast a profit of 74 cents a share on revenue of $577.2 million.

Coinstar expects to earn 77 to 92 cents a share from continuing operations in the first quarter on revenue of $568 million to $593 million. Analysts polled by FactSet estimated $1.22 a share on revenue of $628.8 million.

For the full year, the company expects to make $4.91 to $5.51 a share on revenue of $2.38 billion to $2.56 billion. Analysts forecast earnings of $5.15 a share on revenue of $2.5 billion.

Coinstar shares fell $4.53, or 8.7 percent, to $47.57 in after-hours trading.

News where, when and how you want it

Email Icon

Relive the magic

Relive the magic

Shop for unique souvenirs highlighting great sports moments in Seattle history.



NDN Video