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  • bluecheese4u bluecheese4u Jun 10, 2012 11:00 PM Flag

    Coinstar, Inc. Announces 2012 First Quarter Results

    Coinstar, Inc. Announces 2012 First Quarter Results

    Company Reports Revenue Growth of 34% and EPS Growth Over 200%; Reaffirms Higher 2012 Guidance

    BELLEVUE, Wash., April 26, 2012 /PRNewswire/ -- Coinstar, Inc. (Nasdaq: CSTR) today announced financial results for the first quarter ended March 31, 2012.

    "Coinstar delivered strong financial results in the first quarter demonstrating the strength of our core businesses and the value we offer consumers," said Paul Davis, chief executive officer of Coinstar, Inc. "As we move forward in 2012, we continue to execute on a number of important initiatives including the launch of our Redbox digital solution with Verizon via our joint venture and the rollout of one to two of our new venture businesses."

    Coinstar's 2012 first quarter financial highlights included:

    • Consolidated revenue
    $568.2 million

    • Operating income
    $78.3 million

    • Core adjusted EBITDA from continuing operations* (See Appendix A)
    $129.1 million

    • Diluted earnings per share from continuing operations
    $1.65

    • Core diluted earnings per share from continuing operations* (See Appendix A)
    $1.39

    • Net cash flows from operating activities from continuing operations
    $54.9 million

    • Free cash flow from continuing operations* (See Appendix A)
    $16.9 million

    "Solid execution and operational excellence across Coinstar drove top and bottom line growth," said J. Scott Di Valerio, chief financial officer of Coinstar, Inc. "Our performance underscores the ability to generate profitable growth and simultaneously invest in the future of our core businesses and new automated retail concepts."

    Revenue for the first quarter of 2012 increased 34.0% to $568.2 million compared with the first quarter of 2011, driven primarily by Redbox revenue growth of 38.8% to $502.9 million, reflecting growth in same store sales, new kiosk installations, strong performance of new release titles, and consumer acceptance of the price increase implemented on October 31, 2011. Coin revenue grew 5.6% to $64.8 million, reflecting growth in transactions, transaction size and same store sales.

    Operating income for the first quarter of 2012 was $78.3 million, which resulted in an operating margin of 13.8%, compared with operating income of $31.4 million and an operating margin of 7.4% in the first quarter of 2011.

    Income from continuing operations for the first quarter of 2012 was $53.7 million, or diluted earnings per share from continuing operations of $1.65, an increase in diluted earnings per share of 258.7% compared with $14.8 million, or $0.46 per share, in the first quarter of 2011.

    Net cash flows from operating activities from continuing operations in the first quarter of 2012 was $54.9 million, compared with $60.0 million in the first quarter of 2011. Cash paid for capital expenditures for continuing operations for the first quarter of 2012 was $38.0 million, compared with $38.5 million in the first quarter of 2011. Free cash flow from continuing operations for the first quarter of 2012 was $16.9 million, compared with $21.5 million in the first quarter of 2011.

    Guidance

    For the 2012 full year, Coinstar management expects:
    •Consolidated revenue between $2.155 billion and $2.280 billion;
    •Core adjusted EBITDA from continuing operations* between $465 million and $495 million;
    •Core diluted EPS from continuing operations* between $4.40 and $4.80 on a fully diluted basis; and
    •Free cash flow from continuing operations* between $130 million and $155 million.

    For the

    http://phx.corporate-ir.net/phoenix.zhtml?c=92448&p=irol-newsArticle&ID=1688074&highlight=

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