logo
Share SHARE
FONT-SIZE Plus   Neg

Outerwall Q1 Profit From Cont. Ops. Decreases; Raises 2014 Earnings Guidance

Outerwall Inc. (OUTR) reported that its first-quarter income from continuing operations decreased to $23.89 million or $0.96 per share, from $28.01 million or $0.97 per share, last year. The company said the decrease in income from continuing operations was primarily due to increased interest expense related to the $350.0 million in Senior Notes issued on March 12, 2013 and an increased loss from equity method investments.

Total earnings pers share was $0.94, compared to $0.78, previous year. Core earnings per share from continuing operations was $1.27 for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.93 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $600.37 million from $573.31 million. Analysts expected revenue of $586.65 million for the qauarter. The company said its year-over-year revenue growth was primarily due to the inclusion of the ecoATM business that the company acquired on July 23, 2013, and an increase in same store sales and newly installed and relocated kiosks in both the Redbox and Coinstar lines of business.

For 2014, the company expects: consolidated revenue between $2.378 billion and $2.488 billion; and core EPS from continuing operations between $6.68 and $7.18. Analysts expect the company to report 2014 profit per share of $6.20 on revenue of $2.41 billion.

For the second quarter, the company expects: consolidated revenue between $546 million and $576 million; and core EPS from continuing operations between $1.24 and $1.44. Analysts expect the company to report second-quarter profit per share of $1.54 on revenue of $591.56 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
RELATED NEWS
Trade OUTR now with 
Follow RTT