They’re up about 3.6% in post-market trading following CEO Amy Miles’ disclosure that the exhibition company had its “highest ever first quarter” measured by cash flow. The theater chain generated net income of $46.3M, up from a $23.6M loss in the period last year, on revenues of $684.9M, up nearly 20%. Analysts expected revenues to come in at $670.2M. Yet earnings, at 30 cents a share, stood out vs expectations of 14 cents. Revenues from ticket sales were up 20% to $474.1M as admissions grew 16.1% to 53.7M. The average ticket price, at $8.83, was up 31 cents vs last year’s Q1. Concession sales hit $180M, up about 19%, while spending per patron rose 8 cents to $3.35. Miles attributed the gains to “a strong film slate combined with our continued focus on cost control.” She adds that she’s “excited about the upcoming summer movie season” and is “optimistic about the potential for box office success for the remainder of 2012.”
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This article was printed from http://www.deadline.com/2012/05/regal-entertainment-shares-rise-after-reporting-strong-q1-earnings/
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