Thursday, Regal Entertainment Group (RGC), an operator of diverse movie theatre circuit in the US, reported an increase in second quarter earnings, which was, however, lower than analysts' estimate. The company also declared a cash dividend of $0.18 per Class A and Class B common share, payable on September 18 to holders of record on September 10.
The Knoxville, Tennessee-based company's net income attributable to controlling interest for the quarter rose to $40.5 million from $24.3 million in the year-ago quarter.
Earnings per share advanced to $0.26 from $0.16 per share in the same period last year. On average, seventeen analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues rose to $789.2 million from $675.8 million in the corresponding period last year, and exceeded $768.52 million projected by Street analysts.
Admissions revenues increased to $541.7 million from $455.7 million in the year-ago quarter. Concessions revenues advanced to $214.9 million from $188.9 million in the same period last year.
For the six-month period, net income attributable to controlling interest rose to $61.8 million or $0.40 per share from $51.8 million or $0.33 per share in the year-ago period. Revenues increased to $1.45 billion from $1.30 billion in the same period last year.
RGC closed Wednesday's regular trading at $13.91.
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