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Cinemark Delivers Record Revenues In Q4, But Still Misses Expectations

By DAVID LIEBERMAN, Executive Editor | Wednesday February 20, 2013 @ 1:34pm PSTTags: Cinemark Earnings

Wall Street may have expected a little too much of the exhibition chain for the last three months of 2012. It reports net income of $27.8M, +52.3% vs the end of 2011, on revenues of $611.5M, +14.1%. Pretty good, right? But analysts expected revenues to come in higher, at $616.7M. And a pre-tax loss of $5.6M for early debt retirement held earnings to 24 cents a share,  shy of forecasts for 38 cents. Attendance at the U.S. theaters was up 10.3% to 40.6M, while the average ticket price rose 5.2% to $6.91, and concessions revenues per patron was up 4% to $3.39. That propelled U.S. revenues 15.5% to $435.4M. Sales at the international theaters was up 10.8% to $178.8M. CEO Tim Warner notes that Cinemark “continues to be the number one attended worldwide exhibitor.” He told analysts that he’s “encouraged” about the releases scheduled for 2013 — including 32 wide-release 3D films. But the current quarter’s results may be “challenging” compared to the sales records set last February and March.

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Cinemark Beats Q3 Forecasts With Gains At Overseas Theaters

By DAVID LIEBERMAN, Executive Editor | Tuesday November 6, 2012 @ 4:55am PSTTags: Cinemark Earnings

Cinemark looked like two different companies in the quarter that ended in September. The part with the U.S. theaters delivered blah results compared to last year, while the Latin American-focused international side was on fire. All together, the company reported … Read More »

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Cinemark Beats Wall Street’s Q2 Earnings And Revenue Expectations

By DAVID LIEBERMAN, Executive Editor | Monday August 6, 2012 @ 4:06am PDTTags: Cinemark Earnings

The chain that owns the Aurora, Colorado theater where 12 people were murdered last month just filed a dry financial statement and press release this morning without the usual comments from the CEO about the company and its agenda. And … Read More »

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Cinemark Tops Q1 Earnings Estimates As Admissions And Prices Rise

By DAVID LIEBERMAN, Executive Editor | Monday May 7, 2012 @ 4:18am PDTTags: Cinemark Earnings

The Plano, Texas-based exhibition chain kept in step with the earnings season’s round of better-than-expected results. It generated $772,000 in net income, up 115% vs the same period last year, on revenues of $578.8M, up 6.8%. The revenue figure compared … Read More »

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UPDATE: Cinemark Vows To “Push Back” Against Proposal To Make Theaters Shoulder 3D Glasses Costs

By DAVID LIEBERMAN, Executive Editor | Friday November 4, 2011 @ 4:12am PDTTags: 3D Glasses, Cinemark, Cinemark Alan Stock, Cinemark Earnings, Premium VOD, Sony Pictures, Tower Heist, Universal Pictures

UPDATE, 6:40 AM: CEO Alan Stock made his comment in a conference call with analysts who asked what he’d do if Sony continues with its plan to stop paying for 3D glasses — leaving it to exhibitors to manage the expense. ”We think the way the glasses model works in the U.S. is a great way to work it,” he said. He added that there’s still a lot of time to negotiate before next summer, when Sony wants the change to take place. “I’m pretty confident we can work out a solution,” Stock says. “If we can’t, we’ll have to head in a different direction.” Regarding Universal’s plan, which it canceled, to show Tower Heist on cable VOD just three weeks after opening in theaters, Stock says the studio “thought they had something the exhibitors would comply with.” After Cinemark threatened to boycott the film, “there hasn’t been any further discussion of that particular test, or anything else they’re working on.” Read More »

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Cinemark 2Q Earnings Miss On Early Debt Repayment But Revenues Beat The Street

By DAVID LIEBERMAN, Executive Editor | Friday August 5, 2011 @ 4:43am PDTTags: Cinemark Alan Stock, Cinemark Earnings, Cinemark Entertainment

The movie theater chain says its debt-refinancing effort sliced $4.9M from 2Q earnings. As a result Cinemark reported net profits of $40.4M, up 1.8% vs the same period last year, on revenues of $620.6M, up 15.1%. Earnings at 35 … Read More »

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