The numbers are just in, and Redbox’s parent company, Coinstar, has reported $1.1 billion in revenue for 2009, which is a 50% increase over the preceding year. Coinstar’s Q4 revenue was up 43.9% versus the fourth quarter of 2008, totaling $328 million with a net income of $5.5 million. Operating margin slipped from 9.4% to 6.1%, however.
Coinstar CEO Paul Davis had the following to say about the financials:
“Surpassing $1 billion in revenue and generating significant cash flow and earnings in 2009 were remarkable accomplishments that reflect the strength of our core coin and DVD businesses. . . In 2010 we will continue to engage our consumers and expand our retailer partnerships through innovative initiatives that position us for continued top and bottom line growth.”
Redbox itself had 2009 revenue of $773.5 million, which is practically double its $388.5 million earned in 2008. Coinstar estimates that it will have an even healthier 2010, with revenues totaling between $1.46 billion and $1.56 billion. Coinstar’s full financial release can be found here.
Will these numbers silence the naysayers, Insiders, or should the decline in margin continue to raise concerns?