BELLEVUE , Wash. – Coinstar, the maker of coin-counting machines used in credit unions, banks and supermarkets, said its second-quarter earnings more than doubled as revenues surged.
The company reported second quarter profits of $7 million, compared to $2.7 million for the same period last year.
Second quarter revenues rose 43% to $314 million, from $219.9 million for the same quarter a year ago.
The company said its Redbox DVD rental machine and coin-counting machine business "form a solid platform for growth." They added that they "will explore strategic alternatives for our E-Payment and Money Transfer businesses, in addition to Entertainment."
For the first six months of the year, Coinstar reported a 43% surge in revenues, to $585.1 million, and a 66% rise in profits to $8.9 million, from the first half last year.
