We closed 2001 with exceptional financial results, achieving record revenues, strong cash flow and enhanced operational profitability while lowering our debt by more than $430 million.
We want to be the place where people can rent, buy or trade movies or games, in store or online.
As we end one of the most challenging years for the in-store rental industry, we are focused more than ever on the overall profitability of our business.
I've given up trying to reassure them. I'll let the numbers speak for themselves.
For the first time in three years we saw an increase in domestic same-store rental revenues and we believe that our combined in-store and online rental offering will allow us to further increase our market share and outperform the domestic rental industry in 2006.
We are not changing direction we will continue to move full-steam ahead with our core business, which is Blockbuster stores and Blockbuster online.
The consumer has responded by renting more and renting more often.
By any measure, 2000 was a great year for Blockbuster, ... Building on the strength of 2000, we remain confident that we can continue generating solid cash earnings growth in 2001 and beyond, led by continued success in our retail store business.
Access to video streaming rights with Universal underscores our goal as a company to provide quality, in-home entertainment, in whatever form our consumers want it delivered.
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