Coinstar sees profit spike in Q4

Redbox parent Coinstar, fresh off its announcement of the streaming partnership with Verizon, stated Monday that it is net gain increased last quarter to $31 million from $12 million the prior year. The organization that handles 35,000 DVD rental kiosks countrywide also stated it struck an offer to get assets of NCR, including that company's self-service DVD kiosks, DVD inventory, intellectual property, and certain related contracts. It'll pay NCR as much as $100 million, based on Coinstar's SEC filing. Coinstar revenue rose to $520 million from $391 million for that 4th quarter. For that twelve month 2011, it leaped 33% to $1.8 billion, and the organization stated it needs the figure to top $2.2 billion this season. "The effectiveness of our core companies supplies a firm foundation that allows us to pay attention to key growth initiatives this year, including our partnership with Verizon," stated Boss Paul Davis. Contact the range newsroom at news@variety.com