Not sure what type of inputs you have but I believe this needs a HDMI cable. Plus there must be another player that works better. My experience was terrible. Eventually I bought a ROKU which has worked perfectly.
Yes, it has component outputs. Unless you have Blu-Ray discs used in other parts of the house that can only be played on a Blu-Ray player, though, you might want to consider saving some $ and getting a DVD player instead.