Shares popped about 9% in after hours trading following the 3D technology company’s end of year earnings report that, while not pretty, at least delivered more than the Street expected. In the last three months of 2011 RealD generated $2.8M in net income, up from a $16.8M loss in the period last year, on revenues of $49M, down 15.2%. Analysts anticipated revenues of $42.3M. Earnings, at five cents a share, were well above the five cent loss that company followers forecast. Some of the revenue decline is due to a drop in sales of 3D glasses overseas as people returned to theaters “with RealD eyewear purchased at a previous RealD showing,” the company says. But cost cutting was the order of the day as CEO Michael Lewis says the company dealt with “a relatively muted 3D film slate” that included DreamWorks Animation’s Puss In Boots And Paramount’s Hugo. The company says there were 19,700 RealD-enabled screens at year end, up 74% from a year ago. The total includes 11,500 domestic screens. Lewis says that he’s “excited about the promising slate of 3D films in our fiscal 2013 that begins on March 24, 2012, as well as continued expansion within international markets.”
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