Coinstar Expects to Exceed Previously Issued Guidance for the Second Quarter of 2001.Business Editors BELLEVUE, Wash.--(BUSINESS WIRE)--July 5, 2001 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 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 perform above the previously issued guidance for the second quarter of 2001. Previously, for the second quarter ended June 30, guidance consisted of revenues of $29 to $30 million, a direct contribution margin of 54 to 55 percent, and 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.
While yet to finalize North American core business results for the period, revenues for the second quarter of 2001 are expected to be approximately $31 million. EBITDA is also expected to surpass previously issued guidance. "Once again, as in the first quarter of 2001, North American core business revenues surpassed our own expectations," said Diane Renihan, chief financial officer of Coinstar. "Stronger than expected second-quarter revenue growth is driving better than expected results all the way down the income statement." Due to Coinstar's decision to pursue an orderly exit from the Meals.com business, the Meals.com subsidiary will be classified as a discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. . Certain income and expense classifications may be affected by this accounting treatment. Consistent with past practices, Coinstar will update its full-year guidance, as appropriate, along with its second-quarter earnings release, on Thursday, August 2, 2001. 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. Coinstar Inc. owns and operates the only nationwide network of supermarket-based machines that offer coin counting and other electronic services. Linked by a sophisticated interactive network, the company has more than 8,600 machines throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the United Kingdom. This press release contains forward looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Coinstar's anticipated growth and future operating results that involve a number of risks and uncertainties. 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. Forward looking statements in this press release include statements relating to Coinstar's financial performance during the second quarter of 2001. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause or contribute to such varying results include, but are not limited to, expenses related to Coinstar's review of strategic alternatives and expenses related to the orderly exit of the Meals.com business. These and other risks are more fully described under the caption "Risk Factors" included in the most recent reports filed with the Securities and Exchange Commission by Coinstar Inc. Coinstar undertakes no duty or obligation to update the information provided herein. |
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