Hi all: latest CSTR NEWS to follow. I haven't been around for awhile, but I still hold this stock and continue to accumulate. The company idea is awesome. 1 Billion in "coins" is just the beginning. GL to all. P.S. Call yr local Supermerket and suggest the idea that thay put one of these machines in. Sooner or later, this will FLY.Consumers Cash in More Than $1 Billion in Change Through Self-Service Coin Counting Machines
BusinessWire, Tuesday, December 01, 1998 at 11:50
BELLEVUE, Wash.--(BUSINESS WIRE)--Dec. 1, 1998--Coinstar Inc.
(NASDAQ:CSTR) today announced that Americans have cashed in more than
one billion dollars of their pennies, nickels, dimes and quarters
using the company's nationwide, on-line network of self-service coin
counting machines.
Coinstar(R) machines, located in more than 4,600 supermarkets in
35 states, allow shoppers to empty their piggy banks and coin purses
in exchange for cash. The popularity of the machines is prompting tens
of millions of Americans to quickly turn their coins back into cash.
"Consumers are beginning to capture a tremendous amount of
spending power," said Jens Molbak, founder and CEO of Coinstar Inc.
"Our customers are surprised to learn how quickly they can accumulate
a significant amount of money in loose change."
More than 70,000 tons of coins have been processed though
Coinstar's self-service machines since Molbak installed the company's
first machine in San Francisco six years ago. Company research
indicates that more than half its customers are already repeat users
who regularly process change they receive from their daily cash
transactions. The typical American touches about $600 per year in
coins.
"With about $144 billion worth of change circulating through the
economy each year, and banks that are increasingly reluctant to count
their customers' coins, it's no wonder that people are turning to our
machines in record numbers," continued Molbak. "Our supermarket-based
machines make it convenient for people to cash in their coins on their
regular shopping trip."
The green and blue Coinstar(R) machines are typically located
near the front end of the supermarket. Customers simply pour their
unsorted coins into the machine and receive a voucher good for cash or
supermarket credit at the checkstand.
Coinstar Inc. develops, owns and operates a network of automated,
self-service coin counting and processing machines that provide
consumers with a convenient means of converting loose coins into cash.
More than 4,600 Coinstar machines are installed in 35 states
throughout the U.S. Consumers can call 1-800-928-CASH or visit
coinstar.com for the location of the nearest Coinstar
machine.
Photos can be downloaded from the Coinstar website at:
coinstar.com.
This press release contains forward-looking statements that
involve a number of risks and uncertainties. Actual results could
differ materially from the results identified or implied in any
forward-looking statement discussed herein. Factors that could cause
or contribute to such differences include, but are not limited to, the
risks that are more fully described under the caption "Risk Factors"
included in the most recent reports filed with the Securities and
Exchange Commission by Coinstar, Inc.
CONTACT: Coinstar, Inc.
David Herrick, 425/943-8205 |
