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8-K - FORM 8-K - OUTERWALL INC | d293831d8k.htm |
EX-99.1 - EARNINGS RELEASE - OUTERWALL INC | d293831dex991.htm |
EX-99.2 - PREPARED REMARKS FROM THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - OUTERWALL INC | d293831dex992.htm |
Investor Update 2011 Q4
February 6, 2012
Exhibit 99.3 |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
2
This presentation contains statements considered forward-looking for purposes
of the safe harbor provisions
under
the
Private
Securities
Litigation
Reform
Act
of
1995.
Actual
results
may
differ
materially from those indicated by these forward-looking statements as a result
of various factors, including those discussed in our most recent Annual
Report on Form 10-K and Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission. Coinstar, Inc. assumes no obligation and
does not intend to update these forward-looking statements. Safe Harbor for
Forward-Looking Statements |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
3
2012 Full Year and Q1 Guidance
As of February 6, 2012
2012 Full Year
Revenue by Segment (in millions)
Redbox
$1,770
$1,930
Coin
$300
$310
New Ventures
$5
$10
Total
$2,075
$2,250
2012 Full Year
Other
Core adjusted EBITDA from continuing
operations* (in millions)
$425
$460
Core EPS**
$3.80
$4.30
Average Diluted Shares Outstanding
(in millions)
31.9
32.7
Estimated Effective Tax Rate
39%
Free Cash Flow from continuing
operations*** (in millions)
$120
$145
2012 Q1 Guidance
Revenue (in millions)
$530
$555
Core adjusted EBITDA from continuing
operations* (in millions)
$94
$104
Core EPS**
$0.76
$0.91
2012 Full Year Capital Expenditures
from Continuing Operations (in millions)
Redbox
New
$133
$141
Redbox
Maintenance
$7
$9
Coin
New
$19
$22
Coin
Maintenance
$6
$8
Corporate/Other
$90
$95
Total
$255
$275
2012 Full Year
Installations, net
Redbox Kiosks
4,000
6,000
Coin Kiosks
50
150
New Ventures
0
650
* Core adjusted EBITDA from continuing operations is defined as earnings
before net interest expense, income taxes, depreciation, amortization and
certain other non-cash charges, including the write-off from early
retirement of debt, and share-based expenses from continuing operations,
as well as before non-core adjustments, which are net of applicable taxes and
primarily
include
acquisition
expenses,
such
as
advisor
fees
and
closing
costs,
and
non-recurring
gains/losses related to the formation of our joint venture with Verizon, as well as
gains/(losses) from equity investments, which represent our share of income
from entities we do not consolidate or control.
** Core EPS is defined as earnings per share from continuing operations excluding non-core
adjustments, which are net of applicable taxes and primarily include acquisition
expenses and non-recurring gains/losses related to the formation of our
joint venture with Verizon, as well as gain/(loss) from equity
investments. *** Free cash flow from continuing operations is defined as net cash provided by operating
activities from continuing operations after cash paid for capital expenditures from
continuing operations. |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
4
Consolidated Revenue
As of December 31, 2011
Revenue
(in millions)
$261
$650
$1,033
$1,436
$1,845
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
2007
2008
2009
2010
2011 |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
5
As of December 31, 2011
* From acquisition date
Redbox *
Q1
Q2
Q3
Q4
YTD
2011
362,344
$
363,862
$
389,801
$
445,591
$
1,561,598
$
2010
263,078
$
271,869
$
305,365
$
319,397
$
1,159,709
$
2009
154,697
$
188,909
$
198,064
$
231,760
$
773,430
$
2008
60,513
$
89,956
$
104,192
$
133,792
$
388,453
$
2007
2,602
$
3,063
$
1,649
$
2,218
$
9,532
$
Coin
Q1
Q2
Q3
Q4
YTD
2011
20,609
$
26,800
$
27,879
$
25,678
$
100,966
$
2010
15,020
$
28,043
$
27,872
$
25,382
$
96,317
$
2009
22,391
$
26,016
$
27,254
$
26,949
$
102,610
$
Coin
Q1
Q2
Q3
Q4
YTD
2011
61,363
$
71,065
$
75,506
$
74,448
$
282,382
$
2010
59,918
$
70,362
$
74,669
$
71,033
$
275,982
$
2009
57,876
$
64,741
$
69,501
$
66,398
$
258,516
$
2008
59,329
$
64,585
$
71,104
$
66,608
$
261,626
$
2007
54,915
$
62,523
$
67,513
$
66,363
$
251,314
$
New Ventures
Q1
Q2
Q3
Q4
YTD
2011
365
$
301
$
310
$
416
$
1,392
$
2010
126
$
125
$
153
$
326
$
730
$
2009
180
$
194
$
160
$
143
$
677
$
Redbox *
Q1
Q2
Q3
Q4
YTD
2011
50,821
$
74,017
$
83,499
$
76,595
$
284,932
$
2010
46,301
$
37,167
$
53,648
$
53,734
$
190,850
$
2009
20,850
$
24,568
$
26,684
$
29,469
$
101,571
$
New Ventures
Q1
Q2
Q3
Q4
YTD
2011
(2,555)
$
(4,767)
$
(4,425)
$
(6,068)
$
(17,815)
$
2010
(1,488)
$
(1,927)
$
(2,248)
$
(2,560)
$
(8,223)
$
2009
(154)
$
(641)
$
(669)
$
(617)
$
(2,081)
$
Revenue
Segment Operating Income (Loss)
Business Segment Information
(in thousands)
(in thousands) |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
6
As of December 31, 2011
Coin
Q1
Q2
Q3
Q4
YTD
2011
7,371
$
7,451
$
7,924
$
9,176
$
31,922
$
2010
7,059
$
7,562
$
7,468
$
7,632
$
29,721
$
2009
6,741
$
7,177
$
7,081
$
7,008
$
28,007
$
Redbox *
Q1
Q2
Q3
Q4
YTD
2011
27,098
$
27,360
$
30,910
$
30,062
$
115,430
$
2010
22,121
$
23,866
$
23,955
$
23,503
$
93,445
$
2009
13,169
$
14,725
$
15,527
$
17,267
$
60,688
$
New Ventures
Q1
Q2
Q3
Q4
YTD
2011
175
$
679
$
5
$
7
$
866
$
2010
3,500
$
184
$
(41)
$
183
$
3,826
$
2009
240
$
273
$
367
$
406
$
1,286
$
Depreciation, Amortization and Other
(in thousands)
* From acquisition date
Business Segment Information |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
7
As of
December 31, 2011
Redbox Kiosks (rounded)
Q1
Q2
Q3
Q4
2011
31,800
33,300
34,400
35,400
2010
24,800
26,900
28,500
30,200
2009
15,400
17,900
20,600
22,400
2008
7,900
9,600
11,800
13,700
2007
3,000
4,300
5,700
7,000
Coin Kiosk Same Store Sales
Q1
Q2
Q3
Q4
2011
5.3%
1.8%
1.0%
1.7%
2010
0.5%
7.9%
7.9%
10.0%
2009
-5.0%
-4.3%
-5.4%
-5.1%
Coin Kiosks (rounded)
Q1
Q2
Q3
Q4
2011
18,800
18,900
19,500
20,200
2010
19,100
19,000
18,900
18,900
2009
18,400
18,400
18,800
19,200
2008
15,500
16,500
17,500
18,400
2007
13,800
14,200
14,500
15,400
Redbox Kiosk Same Store Sales
Q1
Q2
Q3
Q4
2011
15.3%
16.6%
13.0%
27.1%
2010
21.0%
3.5%
17.2%
12.5%
2009
35.0%
33.0%
26.3%
21.0%
Redbox
Coin
Installations and Same Store Sales |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
8
As of December 31, 2011
Redbox Gross Margin
Q1
Q2
Q3
Q4
YTD
2011
53.1%
58.4%
59.1%
54.9%
56.3%
2010
59.0%
56.4%
59.7%
54.4%
57.3%
2009
59.6%
57.4%
58.1%
54.0%
57.0%
2008
65.2%
63.0%
62.5%
62.2%
62.9%
Q1
Q2
Q3
Q4
YTD
2011
38,472
$
49,405
$
46,902
$
44,457
$
179,236
$
2010
31,517
$
52,822
$
48,135
$
38,375
$
170,849
$
2009
34,987
$
38,288
$
28,647
$
46,545
$
148,467
$
2008
28,182
$
34,653
$
47,692
$
33,525
$
144,052
$
2007
7,495
$
11,926
$
15,375
$
15,047
$
49,843
$
Consolidated Capital Expenditures* (in thousands)
* For continuing operations
Other Information |
©
2012 Coinstar, Inc. All Rights Reserved. These materials may not be reproduced,
altered or distributed without the express written consent of Coinstar, Inc.
9
* All Walmart related companies, including Sams Club and ASDA
As of December 31, 2011
Walgreens
Walmart*
Kroger
7-
Eleven
McDonalds
Walmart*
Kroger
Supervalu
Delhaize
Ahold
Walmart*
Walgreens
Kroger
7-Eleven
Supervalu
Redbox
Coin
Consolidated
Top 5 Customers by Revenue |