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Regal Entertainment Profit Surges

Regal Entertainment Group (RGC) Thursday reported fourth-quarter net income of $37 million or $0.24 per share, compared with $4 million or $0.03 per share last year.

Excluding items, adjusted earnings for the quarter were $0.28 per share, compared with $0.10 per share a year ago.

Revenues for the quarter were $723 million, compared with $614 million a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.21 per share on revenues of $705.84 million for the quarter. Analysts' estimates typically exclude special items.

"Looking ahead, we are encouraged by the early 2013 box office results and the films scheduled for release in the coming months," the company said.

The company declared a cash dividend of $0.21 per Class A and Class B common share, payable on March 15 to stockholders of record on March 5.

Regal Entertainment Group operates as a motion picture exhibitor and operates a theater circuit in the United States.

by RTT Staff Writer

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