Outerwall Shares Drop on Guidance Cut
December 07 2015 - 6:00PM
Dow Jones News
Outerwall Inc. lowered its 2015 guidance after a disappointing
performance by Redbox, its DVD kiosk business, and said Redbox's
president, Mark Horak, would leave the company.
In after-hours trading, Outerwall shares fell 25% to $43.49.
Outerwall, also home to to the Coinstar and ecoATM brands, said
Redbox was hurt by poor third-quarter box office results. Outerwall
is also discontinuing its SampleIt concept, which offered $1
consumer-product samples along with coupons.
Outerwall expects core earnings from continuing operations of
between $7.65 and $8.15 a share for the year, down from earlier
guidance of between $8.82 and $9.52.
It projects revenue of $2.165 billion to $2.19 billion, down
from its prior view of $2.205 billion to $2.24 billion.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 07, 2015 17:45 ET (22:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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