Top U.S. movie rental chain Blockbuster Inc posted lower first-quarter profits on Thursday and warned that same-store sales would continue to be lower in 2009, but said it was still comfortable with its prior full-year outlook.

Net income for the first quarter of 2009 was $27.7 million, or 12 cents per diluted share, compared to net income of $45.4 million, or 20 cents per diluted share year earlier.

First-quarter revenues fell to $1.12 billion from $1.39 billion a year earlier. The company said it remains comfortable with its prior guidance for fiscal 2009, which includes adjusted earnings before interest, taxes, depreciation and amortization in the range of $305 million to $325 million.

Blockbuster shares traded little changed in after-hours trade after spiking briefly more than 5 percent after the earnings release. The stock closed up 11 cents to $1.14 a share,