Outerwall Profit Plunges, Revenue Misses

(RTTNews) - Outerwall Inc. (OUTR), a provider of automated retail solutions, Thursday reported third-quarter net earnings of $18 million or $0.93 per share compared with $82.7 million or $2.95 per share last year.

Core earnings for the quarter were $1.44 per share compared with $1.12 per share a year ago.

Revenues for the quarter were $553 million compared with $586.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.14 per share on revenues of $562 million for the quarter. Analysts' estimates typically exclude special items.

Operating expenses for the quarter were lower at $496 million compared with $531 million last year.

The quarter also recorded other expense of $26.8 million compared with an income of $47 million last year.

For the fourth quarter, the company expects core earnings of $1.85 to $2.15 per share on revenues of $575 million to $605 million. Analysts expect earnings of $2.06 per share on revenues of $600.2 million.

For the full year, the company now expects core earnings of $5.98 to $6.28 per share on revenues of $2.28 billion to $2.31 billion. It earlier expected earnings of $5.78 to $6.28 per share on revenues of $2.25 billion to $2.33 billion

Analysts expect earnings of $5.85 per share on revenues of $2.35 billion.