February 15, 2010

DVD KIosks - Coinstar & Redbox Drop

Despite contentions that the company was going to face questions "they won’t be able to work around" after yesterday’s announcement of its Q4 2009 financials, redbox parent Coinstar Inc. met Wall Street expectations thanks at least in part to the growth of its DVD-rental business, according to Reuters.

But stock prices dropped somewhat overnight, apparently based on fears that its workaround efforts aren't going to be as successful as the company says they will be.

The Bellevue, Wash.-based Coinstar, which also makes coin-counting machines, said it rolled out nearly 9,000 DVD-rental kiosks last year.

Net Q4 income attributable to Coinstar was $5.5 million, or 18 cents a share, versus $4.2 million, or 15 cents a share, in Q4 last year.

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Posted by staff at February 15, 2010 09:11 AM