Blockbuster Q4 Earnings
Seth Gilbert, 02-27-2007
Blockbuster (NYSE: BBI, BBI.B), reported Q4 earnings.
For the quarter, net income was down to $12.9m ($.05/share) from $18m ($.09/share). Revenues increased 1.4% to $1.51b. Online subscribers increased by 700k during the period. Operating income totaled 445.8m, down from $57m in the prior year.
For the full year, 2006 revenues decreased 3.5% $5.52 billion – attributed by the company to the closing of stores. Operating income for the year was at $79.1m, versus a loss of $388m in the prior year (which included a $341m non-cash charge).
More detailed press coverage on Blockbuster’s finances can be found at:
