FONT-SIZE Plus   Neg

Outerwall Reports Q2 Core EPS From Cont. Ops. Of $1.42 - Quick Facts

Outerwall Inc. (OUTR) reported that its second-quarter income from continuing operations decreased to $21.81 million or $1.08 per share, from $50.41 million or $1.77 per share, prior year. Core EPS from continuing operations was $1.42 for the quarter.

The company noted that the year-over-year decrease in income from continuing operations was primarily due to lower revenues and the impact of the change in the amortization accounting methodology that was implemented in the second quarter of 2013. Had this methodology been in effect prior to the second quarter of 2013, income from continuing operations for the second quarter of 2013 would have been $32.2 million, Outerwall said.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.36 for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $549.17 million from $553.05 million, a year ago. Analysts expected revenue of $559.35 million for the quarter. The company said the year-over-year decline in consolidated revenue was primarily due to the impact of a weak content release schedule on the Redbox business, partially offset by an increase in revenue from the Coinstar segment and the inclusion of the ecoATM business that was acquired in late July 2013.

For the third-quarter, the company expects: consolidated revenue between $535 million and $565 million; and core EPS from continuing operations between $0.99 and $1.29. Analysts expect the company to report third-quarter earnings per share of $1.91 on revenue of $613.52 million.

For the full-year 2014, the company expects: consolidated revenue between $2.254 billion and $2.334 billion; and core EPS from continuing operations between $5.78 and $6.28. Analysts expect the company to report 2014 earnings per share of $6.80 on revenue of $2.40 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Starbucks is rolling out its delivery service - good news for any caffeine addicts who can't make it out to the coffee chain. Unfortunately, there's still a wait in store for most people: the new service only covers Manhattan's most recognizable skyscraper. According to multiple media reports, Starbucks' pilot program is launching at the Empire State Building in New York City. Tech giant Apple Inc. Tuesday said the 21.5 inch iMac all-in-one desktop computers will be available with new Retina 4K display, while every 27 inch iMac will have Retina 5k display for true to life pictures and videos. The new iMacs will be supported by processors and graphics, two Thunderbolt 2 ports and new storage options. Popular sports news websites Deadspin and SBNation had their Twitter feeds suspended on Monday for alleged copyright violations. According to various media reports, Twitter halted @Deadspin and @SBNationGIF after the social media giant received complaints from various sources, including the NFL, the UFC and a couple of college football conferences.
comments powered by Disqus
Trade OUTR now with 
Follow RTT