Key Developments For Coinstar, Inc.
Coinstar, Inc. (CSTR.O) (Nasdaq)
Coinstar, Inc. Lowers FY 2009 Revenue Guidance; Reaffirms FY 2009 EBITDA Guidance; Raises FY 2009 EPS Guidance
Coinstar, Inc. announced that for fiscal 2009, it expects revenue in the range of $1.115 to $1.165 billion, adjusted EBITDA from continuing operations in the range of $200 to $210 million and on a fully diluted basis, GAAP earnings per share (EPS) from continuing operations in the range of $0.98 to $1.04 and GAAP EPS in the range of $1.90 to $1.96. According to Reuters Estimates, analysts were expecting the Company to report revenue of $1.231 billion, EBITDA of $207 million and EPS of $1.12 for fiscal 2009.
Coinstar, Inc. Announces Management Change
Coinstar, Inc. announced that Chief Financial Officer (CFO) Brian V. Turner has elected to leave the Company after six years of service and that John Harvey, Chief Financial Officer of Redbox Automated Retail, LLC (Redbox), has been appointed as Chief Financial Officer of the Company. Brian Turner will stay on as Chief Financial Officer of the Company until June 1, 2009, to ensure a smooth and orderly transition of duties to Harvey. The Company also announced that it has appointed Gregg Kaplan, former Chief Executive Officer of Redbox Automated Retail, LLC (Redbox), to the positions of President and Chief Operating Officer of the Company, succeeding Paul D. Davis.
Coinstar, Inc. Issues Q1 2009 Mixed Guidance; Raises FY 2009 Guidance
Coinstar, Inc. announced that for first quarter of 2009, it expects revenue to be in the range of $260-$270 million and GAAP earnings per fully taxed, fully diluted share (EPS) to be in the range of $0.04-$0.10. The Company is raising fiscal 2009 guidance and expects revenue to be in the range of $1.2-$1.3 billion and EBITDA in the range of $185-$195. According to Reuters Estimates, analysts are expecting the Company to report revenue of $248 million and GAAP EPS of $0.18 for first quarter of 2009; revenue of $1.09 billion and EBITDA of $193 million for fiscal 2009.
Coinstar, Inc. And Overstock.com Team Up To Offer Free Coin Counting In Time For The Holidays
Coinstar, Inc. and Overstock.com, Inc. announced Overstock.com as the latest addition to the Coinstar Coin to Card program. Consumers pay no coin-counting fee when converting their loose change to a variety of nationally-branded gift cards and eCertificates at Coinstar Centers across the United States. The Overstock.com eCertificate is available on approximately 10,000 Coinstar Centers across the U.S.
Coinstar, Inc. Files To Sell Up To $113.75 Million In Mixed Securities-DJ
Dow Jones reported that Coinstar, Inc. filed with the Securities and Exchange Commission to sell up to $113.75 million in mixed securities from time to time. Coinstar, Inc. said the mixed securities include common stock, debt securities, convertible debt securities, stock purchase contracts and stock purchase units. Coinstar currently intends to use the net proceeds from the sale of the securities to repay or refinance debt, to fund acquisitions, to purchase or redeem outstanding securities or for general corporate purposes.
