Redbox 2013 Annual Report Download - page 53

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44
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Unaudited quarterly financial data for each of the eight quarters in the two-year period ended December 31, 2013, recast for the
four ventures previously included in our New Ventures operating segment; Orango; Rubi; Crisp Market and Star Studio which
were discontinued during 2013, is as follows:
2013 (In thousands, except per share data) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 573,307 $ 553,050 $ 586,539 $ 593,705
Income from continuing operations before income taxes . . . . . . $ 44,162 $ 53,495 $ 102,324 $ 42,587
Income tax benefit (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,155) (3,082) (15,529) 289
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . 28,007 50,413 86,795 42,876
Loss from discontinued operations, net of tax . . . . . . . . . . . . . . . (5,403) (3,556) (4,139) (20,201)
Net income(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 22,604 $ 46,857 $ 82,656 $ 22,675
Basic earnings per share from continuing operations . . . . . . . . . $ 1.02 $ 1.84 $ 3.19 $ 1.61
Basic loss per share from discontinued operations . . . . . . . . . . . (0.20) (0.13) (0.16) (0.76)
Basic earnings per share. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.82 $ 1.71 $ 3.03 $ 0.85
Diluted income per share from continuing operations. . . . . . . . . $ 0.97 $ 1.77 $ 3.10 $ 1.55
Diluted loss per share from discontinued operations . . . . . . . . . . (0.19) (0.13) (0.15) (0.73)
Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.78 $ 1.64 $ 2.95 $ 0.82
Shares used in basic per share calculations . . . . . . . . . . . . . . . . . 27,493 27,438 27,244 26,696
Shares used in diluted per share calculations. . . . . . . . . . . . . . . . 28,937 28,537 28,016 27,598
2012 (In thousands, except per share data) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 567,771 $ 531,834 $ 537,197 $ 563,082
Income from continuing operations before income taxes . . . . . . $ 93,518 $ 65,693 $ 61,243 $ 37,939
Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (37,308) (26,369) (21,860) (12,404)
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . 56,210 39,324 39,383 25,535
Loss from discontinued operations, net of tax . . . . . . . . . . . . . . . (2,514) (2,449) (2,609) (2,650)
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 53,696 $ 36,875 $ 36,774 $ 22,885
Basic earnings per share from continuing operations . . . . . . . . . $ 1.84 $ 1.28 $ 1.29 $ 0.87
Basic loss per share from discontinued operations . . . . . . . . . . . (0.08) (0.08) (0.08) (0.09)
Basic earnings per share. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.76 $ 1.20 $ 1.21 $ 0.78
Diluted earnings per share from continuing operations . . . . . . . . $ 1.72 $ 1.18 $ 1.22 $ 0.83
Diluted loss per share from discontinued operations . . . . . . . . . . (0.07) (0.07) (0.08) (0.08)
Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.65 $ 1.11 $ 1.14 $ 0.75
Shares used in basic per share calculations . . . . . . . . . . . . . . . . . 30,590 30,776 30,454 29,380
Shares used in diluted per share calculations. . . . . . . . . . . . . . . . 32,628 33,190 32,238 30,619
(1) Net income in the third quarter of 2013 includes a $68.4 million gain on the re-measurement of our previously held
equity interest in ecoATM to its acquisition date fair value.