National CineMedia Introduces Dividend As Fiscal Q3 Results Slightly Beat Forecasts

Movie theater ad sales were up, but the Fathom Events business — which offers concerts and other alternative programming for exhibition companies — took a breather in the quarter that ended in June. Due to its debt refinancing efforts, National CineMedia ended the period with a $1.9M net loss, down from a $9M profit last year, on revenues of $110.1M, -3.4%. That revenue figure is a little ahead of the $108.5M analysts expected. Without the costs from the debt restructuring, earnings would have come in at 13 cents a share, a penny ahead of projections. National CineMedia says that it sold $101.3M in ads, +2.7%. That includes $10.2M in advertising beverage revenue from the exhibition chains that back it including AMC Entertainment, Cinemark, and Regal. But the gain in ad sales was offset by Fathom Events’ 42.9% drop in revenues to $8.8M. Management reaffirmed its forecast that the company will end the year with as much as $470M in revenue. It also unveiled a 22 cents a share dividend which it says it intends to pay “for the foreseeable future.” (more…)

This article was printed from