Redbox parent Coinstar, fresh off its announcement of a streaming partnership with Verizon, said Monday that its net income surged last quarter to $31 million from $12 million the year before.
The company that manages 35,000 DVD rental kiosks nationwide also said it struck a deal to acquire assets of NCR, including that company’s self-service DVD kiosks, DVD inventory, intellectual property, and certain related contracts. It will pay NCR up to $100 million, according to Coinstar’s SEC filing.
Coinstar revenue rose to $520 million from $391 million for the fourth quarter. For the full year 2011, it jumped 33% to $1.8 billion, and the company said it expects the figure to top $2.2 billion this year.
“The strength of our core businesses provides a solid foundation that enables us to focus on key growth initiatives in 2012, including our joint venture with Verizon,” said CEO Paul Davis.