Coinstar (CSTR) this afternoon said it sold its E-Payment services business to Atlanta-based InComm for $40 million. The unit offers prepaid card products from more than 65 issuers. The deal closed May 25.
Coinstar also adjusted its financial guidance to reflect the impact of the deal.
For Q2, the company now sees revenue of $363 million to $383 million, adjusted EBITDA of $57 million to $62 million and EPS of 28-32 cents. Street consensus had been for revenue of $386.5 million and profits of 35 cents.
For all of 2010, the company sees revenue of $1.505 billion to $1.595 billion, with adjusted EBITDA of $270 million to $285 million and EPS of $1.74 to $1.86. The Street has been expecting revenue of $1.58 billion and profits of $1.84.
In late trading, CSTR is up $1.39, or 2.6%, or $51.59.
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