Coinstar's Third Quarter 2002 Performance Expected to Exceed Previous Guidance.Business Editors BELLEVUE, Wash.--(BUSINESS WIRE)--Oct. 11, 2002 Coinstar Inc. (Nasdaq:CSTR CSTR Centre for Speech Technology Research CSTR Canister CSTR Continually Stirred Tank Reactor CSTR Center for Software Testing Research (Florida Tech) CSTR Combat System Trial Rehearsal (US DoD) ) today announced that it expects earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. core business to exceed previously issued guidance for the third quarter of 2002. Previous guidance for the North American core business for the third quarter of 2002 consisted of revenues of $39.0 to $41.0 million, direct contribution of $22.5 to $24.0 million, EBITDA of $13.5 to $15.0 million, and net income from continuing operations of $7.0 to $8.5 million, or approximately $0.31 to $0.37 per share. Based on preliminary data, the company anticipates third-quarter revenues for its North American core business of approximately $41.0 million. Due to continued expense control and operating leverage Operating Leverage A measurement of the degree to which a firm or project relies on fixed rather than variable costs. Notes: The higher the degree of operating leverage, the greater the potential danger from forecasting risk. , EBITDA and net income from continuing operations are expected to exceed the high end of previous guidance. "Coinstar continues to generate strong revenue growth and demonstrate the non-cyclical demand for its services," said Dave Cole, chief executive officer of Coinstar. "Additionally, we have effectively managed our costs." Consistent with past practices, Coinstar will update its fourth-quarter guidance, as appropriate, when it announces third-quarter earnings on Thursday, October 31, 2002. Earnings will be released before the opening of the market, followed by a conference call at 11 a.m. Eastern time. The call will be simulcast on the company's Web site at www.coinstar.com and will be available for one week following the live event. About Coinstar Inc. Coinstar Inc. owns and operates the only nationwide network of supermarket-based machines that offer coin counting and other electronic services. The company has more than 10,000 machines linked by a sophisticated interactive network, throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , as well as in Canada and the United Kingdom. This press release contains forward-looking statements relating to Coinstar's financial performance during the third quarter of 2002. These are forward-looking statements for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The words "believe", "expect", "intend", "anticipate", variations of such words, and similar expressions identify forward- looking statements, but their absence does not mean that the statement is not forward looking. Actual results may differ materially from the results expressed or implied in such statements. Business risks are described under the caption "Risk Factors" included in the most recent reports filed with the Securities and Exchange Commission by Coinstar Inc. Except as required by law, Coinstar undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise. |
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