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
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