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Coinstar quarterly profit drops 28 pct
February 7, 2013 / 9:16 PM / 5 years ago

Coinstar quarterly profit drops 28 pct

Feb 7 (Reuters) - Coinstar Inc, the operator of Redbox video rental kiosks, reported a 28 percent drop in quarterly profit, sending its shares down 8 percent in extended trade.

The company’s net income fell to $22.8 million, or 75 cents per share, in the fourth quarter, from $31.5 million, or $1.00 per share, a year earlier.

Revenue rose 8.4 percent to $564.1 million.

The company’s shares closed at $52.10 on the Nasdaq on Thursday.

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