Blockbuster releases financial projections for 34 weeks ended Aug. 29

By Caroline Salls

Pittsburgh, Oct. 12 - Blockbuster Inc. has released some of the financial projections announced to restricted holders of its 11¾% senior secured notes in October in connection with negotiation of the company's pre-arranged recapitalization plan, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

According to the projections, Blockbuster expected to have a $65.7 million operating loss for the 34 weeks ended Aug. 29 on $2.194 billion in total revenues.

The net loss for the period was projected to be $152.2 million and adjusted EBITDA $56.8 million.

Blockbuster, a Dallas-based provider of in-home movies and game entertainment, filed for bankruptcy on Sept. 23 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 10-14997.

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