Blockbuster Delays Q2 Results One Day13 Aug, 2010 By: Erik Gruenwedel
A Blockbuster spokesperson late Aug. 12 said the DVD rental chain would report second-quarter (ended July 4) financial results Aug. 13 instead of the previously-scheduled day due to combining quarterly and 10Q results simultaneously.
"It's not a sign of anything other than these factors,” spokesperson Rebecca Fannin told Reuters.
The apparent regulatory explanation did little to dissuade concern Dallas-based Blockbuster is struggling to recapitalize and faces possible bankruptcy. In addition, Blockbuster is on the hook to repay a $42.4 million interest payment due Aug. 13.
After announcing Aug. 11 it would not hold a call with analysts following release of financial results, Blockbuster did little to reassure analysts and investors when it failed to disclose financials at the close of the market and waited nearly five hours to announce the delay.