The movie rental chain Blockbuster Inc., which is trying to buy Henrico County-based Circuit City Stores Inc., says it swung to a first-quarter profit on lower expenses and improved results from its subscription service and domestic sales growth.

The Dallas-based Blockbuster this morning reported its earnings after preferred dividends was $42.6 million, or 20 cents per share. That compared with a loss of $51.8 million, or 27 cents per share, one year earlier.

Blockbuster says revenue slipped 5 percent to $1.39 billion from $1.47 billion after closing or selling 412 stores.

Analysts polled by Thomson Financial forecast net income of 15 cents per share on sales of $1.44 billion.

-- The Associated Press