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Coinstar Announces Q1 Results, Proposed Name Change

By Eric Volkman - Apr 25, 2013 at 5:20PM

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Revenue is slightly up, net profit is down, and a rebranding might be in the offing.

Coinstar's (OUTR) Q1 results offered a little more than numbers this time -- the company may also change its name.

For the quarter, revenue was nearly $575 million, up from the $568 million in the same period the previous year. Net profit came in at $22.6 million ($0.78 per diluted share), less than half of Q1 2012's $53.7 million ($1.65).

Coinstar provided forward guidance in its earnings release. For its current Q2, revenue is anticipated to be $555 million to $580 million, with diluted EPS coming in at $0.90 to $1.05. Those figures for the entirety of fiscal 2013 are expected to be $2.39 billion to $2.55 billion and $5.05 to $5.55, respectively.

The company also announced that it will try to win shareholder approval to change its name to Outerwall. It chose that moniker because it "is intended to signify innovation and pushing the walls of retail out into a new dimension through current and future automated retail solutions."

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