For its fourth quarter ended in Dec. 31, Coinstar reported a profit of $31.5 million, or $1 per share, on revenue of $520.5 million. The average estimate of analysts polled by
was for earnings of 64 cents a share on revenue of $498.1 million.
The company also forecast core earnings of 76 to 91 cents a share for its fiscal first quarter ending in March on revenue of between $530 million to $555 million vs. Wall Street's current consensus view for a profit of 86 cents a share on revenue of $514.5 million.
For fiscal 2012, Coinstar sees core earnings of $3.80 to $4.30 a share on revenue ranging from $2.075 billion to $2.250 billion vs. the average analysts' estimate for a profit of $3.86 a share on revenue of $2.17 billion.
In the NCR deal, Coinstar said it will be paying up to $100 million for the assets, and that it has also agreed to a manufacturing and services agreement with NCR.
The stock was last quoted at $59.02, up 16.7%, on volume of 2.4 million, according to
. Based on Monday's regular-session close at $50.56, the shares had risen more than 20% over the past year.
"The strength of our core businesses provides a solid foundation that enables us to focus on key growth initiatives in 2012, including our joint venture with Verizon that was announced earlier today," said Paul Davis, the company's CEO, in a statement. "We are delighted to be partnering with Verizon to offer consumers affordable entertainment in both physical and streaming formats and look forward to launching our service in the second half of the year."
Coinstar said its Redbox DVD rental kiosk business delivered year-over-year revenue growth of nearly 40% in the latest quarter, totaling $445.6 million, because of "new kiosk installations, strong performance of new release titles, and consumer acceptance of the price increase," which went into effect in October.
NCR shares also got a lift from the news as well as its own above-consensus results, gaining 8.3% to $20.60 on volume of more than 85,000. The company reported a non-GAAP profit from continuing operations of 65 cents a share for the fourth quarter on revenue of $1.64 billion, beating Wall Street's view for earnings of 56 cents a share on revenue of $1.58 billion.
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Written by Michael Baron in New York.
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