Feb. 8, 2013
Coinstar Inc. released fourth-quarter earnings and its first-quarter forecast yesterday after its shares fell as much as 10 percent in extended trading.
Executives said a weak film lineup this quarter will cause results to miss analysts' estimates, bloomberg.com reported. The company stocked 12 new titles in January compared with 23 in January 2012, said CFO Scott Di Valerio.
"It's going to take a while with the third quarter content, how bad it was, to get them back in," said Di Valerio, who will become chief executive officer on April 1. "We saw some good trends in the fourth quarter, which was good, but also looking at the first quarter, some of the releases aren't as good as they were last year. It's a content question and a question of continuing to drive folks to our kiosks. We feel as we hit the back half of the year, we'll be hitting on all cylinders and driving revenue per kiosk."
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