Redbox 2008 Annual Report Download - page 44

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Supplemental Quarterly Financial Information
The following table sets forth selected unaudited quarterly financial information for the last eight quarters.
This information has been prepared on the same basis as our audited Consolidated Financial Statements and
includes, in the opinion of management, all normal and recurring adjustments that management considers necessary
for a fair presentation of the quarterly results for the periods. The operating results for any quarter are not
necessarily indicative of the results for future periods. Certain reclassifications have been made to the prior period
balances to conform with the current year presentation.
Dec. 31,
2008
Sept. 30,
2008
June 30,
2008(1)
March 31,
2008(2)
Dec. 31,
2007(3)
Sept. 30,
2007(4)
June 30,
2007
March 31,
2007
Three Month Periods Ended
(In thousands, except per share data)
(unaudited)
Consolidated Statement of
Operations:
Revenue . .................. $260,981 $240,497 $219,903 $190,519 $133,314 $143,291 $137,356 $132,336
Expenses:
Direct operating ............ 180,945 168,721 152,009 132,610 85,112 86,721 92,570 91,639
Marketing . . . ............. 5,311 7,374 3,815 2,803 2,009 5,650 2,614 1,626
Research and development . . . . . 1,180 1,157 1,175 1,246 1,070 1,397 1,345 1,341
General and administrative . . . . . 29,472 22,760 23,206 19,796 13,857 15,685 13,404 12,247
Depreciation and other ........ 23,089 17,746 18,855 16,971 14,724 15,100 14,549 14,468
Amortization of intangible
assets ................. 2,213 2,271 2,298 2,342 1,962 1,813 1,817 1,739
Impairment and excess inventory
charges . . . ............. — — — — 65,220 — — —
Proxy, write-off of acquisition
costs, and litigation
settlement. . ............. — — 3,084 — — — — —
Income (loss) from operations . . . . . 18,771 20,468 15,461 14,751 (50,640) 16,925 11,057 9,276
Foreign currency (loss) gain and
other . .................. (1,149) (709) (890) (1,128) 91 699 (20) (120)
Interest income . ............. 155 180 626 259 201 1,109 193 195
Interest expense . ............. (5,490) (5,404) (5,906) (4,916) (4,605) (4,365) (4,125) (3,974)
(Loss) income from equity
investments and other ........ 1 (1) 243 (580) 472 2,217 (1,101) (255)
Minority interest ............. (3,647) (3,347) (4,269) (3,173) — — — —
Early retirement of debt . ........ — — — — (1,794) — — —
Income (loss) before income taxes . . 8,641 11,187 5,265 5,213 (56,275) 16,585 6,004 5,122
Income taxes . ............. (4,421) (6,676) (2,585) (2,512) 19,053 (7,520) (2,656) (2,566)
Net income (loss) ............. $ 4,220 $ 4,511 $ 2,680 $ 2,701 $ (37,222) $ 9,065 $ 3,348 $ 2,556
Net income (loss) per share:
Basic . .................. $ 0.15 $ 0.16 $ 0.10 $ 0.10 $ (1.34) $ 0.33 $ 0.12 $ 0.09
Diluted .................. $ 0.15 $ 0.16 $ 0.09 $ 0.10 $ (1.34) $ 0.32 $ 0.12 $ 0.09
(1) In the second quarter of 2008, we recognized $3.1 million in expense related to a proxy contest, the write-off of in-process acquisition costs
and a litigation settlement.
(2) In the first quarter of 2008, we acquired GroupEx and the majority ownership interest of Redbox.
(3) In the fourth quarter of 2007, we recorded an impairment and excess inventory charge.
(4) In the third quarter of 2007, we recognized a telecommunication fee refund. The net income effect of the refund, net of taxes, monies owed to
a joint venture and other effects was approximately $6.5 million in the third quarter of 2007.
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