News

Coinstar third-quarter revenue tops $100 million

October 31, 2004

BELLEVUE, Wash. - Coinstar Inc. announced results for the three-month period ended September 30, 2004. A news release stated quarterly revenue of $106.4 million.

"We're pleased with the results from the quarter, and with the progress we've made during the year to diversify our business beyond coin counting," said Dave Cole, Coinstar's CEO. "By adding e-payment products and services to our Coinstar Centers and making strategic acquisitions, which have added new classes of trade and a broader array of products and devices, we are well positioned to drive the business in 2005 and beyond."

On July 7th, Coinstar completed the acquisition of ACMI for $235 million in cash. ACMI, operating as Sugarloaf Creations, is an owner/operator of coin-operated entertainment services equipment in the United States, with more than 167,000 machines in over 18,000 locations including mass merchants, supermarkets, warehouse clubs, restaurants, entertainment centers, and truck stops. The acquisition broadened Coinstar's platform to include over 42,000 distribution points.

On July 29th, the company announced that Albertson's was rolling out Coinstar's electronic-payment products and services in more than 1,800 grocery and drug store locations in the United States. Coinstar Centers with self-service coin counting are currently installed in more than 1,700 Albertsons' supermarkets and drug store locations. By the end of 2004, Coinstar expects all 1,800 installed Albertsons' locations to be equipped with its electronic-payment services, including prepaid wireless airtime and Green Dot Prepaid MasterCard cards.