It’s a tough time for the company, which sells ads and produces special events for movie theaters. National CineMedia just reported consolidated net income for Q3 of $16.7M, -6% vs the period last year, on revenues of $143.7M, +5.7%. But the results fell short of the Street’s expectations. Analysts anticipated revenues of $145.2M. Earnings per share, at 30 cents, were two cents shy of projections. National CineMedia says that ad sales increased 8.5% to $138M, while revenue from its Fathom Events operation declined 35.2% to $5.7M as it wound down Fathom Business Events. More worrisome is CEO Kurt Hall’s warning that Q4 scatter market ad sales are “a bit more more challenging than we had originally anticipated” due to “inconsistent economic data and several uncertainties that could impact future economic activity.” The company lowered its revenue projection for 2012 to as much as $455M, down from $470M that it told investors to expect three months ago. “Even with this somewhat softer media marketplace, our national revenue growth for the year is still expected to be strong at 5% to 9%,” Hall says.
National CineMedia Misses Q3 Earnings Forecasts And Lowers Year End Guidance
What's Hot on Deadline
'Martian' Still Frying 'Pan' At The Weekend B.O.; 'Steve Jobs' Posting Best Theater Average This Year - Late Night Update
Latest Business News
- Obamageddon Hits Westside With POTUS Fundraisers & Road Closures
- Tegna Blacks Out Dish Network Customers In 38 Markets
- The ABCs Of Relativity: What Happened In Its Bankruptcy Case, And What’s Next?
- Paramount Extends Brad Grey To 2020 Amid Viacom Efforts To Rebuild Studio
- CAA Book Promises To Surprise, Will Hit Store Shelves Next Summer
- ‘Amazing Spider-Man 2’ Stuntman Slaps Age-Discrimination Suit On Sony, Marvel & Others