DALLAS, Aug. 30, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Blockbuster Inc. (Pink Sheets:BLOKA). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Blockbuster Inc. (BLOKA) is a global provider of rental and retail movie and game entertainment, with over 6,500 stores in the United States, its territories and 17 other countries as of January 3, 2010. The Company operates in two segments: Domestic and International. The Domestic segment consists of the United States store operations and by-mail subscription service operations, in addition to vending kiosks and the digital delivery of movies, through blockbuster.com and BLOCKBUSTER On Demand. The International segment consists of the non-United States store operations, including operations in Europe, Latin America, Australia, Canada, Mexico and Asia. On August 28, 2009, the Company completed the sale of Xtra-vision Ltd., a 184 store entertainment retailer in Ireland to Birchhall Investments Ltd..
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In the report, the analyst notes:
"Net loss for the second quarter of 2010 was $69 million, or $0.32 per share, compared to a net loss of $37 million, or $0.21 per share, in the second quarter of 2009. Net loss for the second quarter was affected by the closure of company-operated stores, the decline in same-store sales, and liquidity issues including costs associated with recapitalization initiatives and lease termination costs.
"BLOKA and its senior debt holders had a meeting last week with six major movie studios discussing their intention to enter a preplanned bankruptcy for about five months, the Los Angeles Times reported. A preplanned bankruptcy would allow BLOKA to escape leases at some of its underperforming stores, and could result in the closure of another 500 to 800 locations."
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