Coinstar, Inc. reported financial results for the third quarter and nine months ended Sept. 30, 2012.
"In the third quarter, Coinstar delivered 16 percent year over year revenue growth and solid bottom line results," said Paul Davis, chief executive officer of Coinstar, Inc., in a prepared statement. "Redbox revenue increased 18 percent despite temporary headwinds from the new release schedule and Olympics that negatively impacted rentals. We are optimistic regarding the future of Redbox and are focused on key Redbox growth initiatives, including extending the footprint in the U.S. and expanding into Canada, as well as our digital offering with Redbox Instant™ by Verizon. We continue to find new ways to add value at our kiosks to drive increased consumer loyalty and transactions, including Redbox Tickets™, a unique concept recently launched in Philadelphia that enables consumers to purchase tickets to a variety of entertainment events for a fee of only $1.00 per ticket."
Davis continued, "We believe that the agreement with Warner Bros. we announced demonstrates our ongoing commitment to offer new release content to our consumers and underscores the importance of the physical DVD in the home entertainment ecosystem. We are confident that the actions we are taking will serve consumers and shareholders well into the future."