Outerwall Inc (OUTR) Shares Plunge Over 20% Following Lower Guidance

Outerwall Inc shares slid over 20% Monday after trimming its full-year guidance due to a disappointing performance by its Redbox DVD kiosk business.

Outerwall also said Redbox’s president, Mark Horak, would leave the company after less than two years in the post.

Outerwall Inc lowered 2015 earnings projections

Outerwall said it expects Redbox’s 2015 revenues to come in between $1.750 billion and $1.765 billion, versus the prior range of $1.790 billion to $1.815 billion.

Outerwall anticipates diluted earnings per share from continuing operations at between $7.65 and $8.15 per share, after adjusting for one-time items, down from earlier...