Blockbuster Inc. (NYSE: BBI) managed to beat earnings expectations this morning. The company posted $0.20 EPS on a 5.4% revenue decrease to $1.39 Billion. First Call had estimates at $0.15 EPS on $1.44 Billion in revenues.
Operating income was $70.2 million. The company’s same store sales rose 2.9%, but this was on a smaller number of stores. The company also noted that BLOCKBUSTER Total Access(TM), its subscription rental offering, is now profitable and positioned for growth.
Here were some balance sheet highlights:
Cash and cash equivalents $137.7
Merchandise inventories $397.4
Rental library $444.8
Accounts payable $453.8
Total debt (w/ capital lease
obligations) $751.4
Blockbuster shares are up 10% pre-market at $3.40; its 52-week trading range is $2.52 to $5.80.
Jon C. Ogg
May 15, 2008
Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
