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Cinemark Holdings Posts Revenues for Q4 2013

February 24, 2014

Cinemark Holdings, Inc., a motion picture exhibitor, reported results for the three months and year ended December 31, 2013.

Cinemark Holdings, Inc.'s revenues for the three months ended December 31, 2013 increased 6.6 percent to $651.9 million compared to $611.5 million for the three months ended December 31, 2012. For the three months ended December 31, 2013, admissions revenues increased 6.9 percent and concession revenues increased 6.2 percent. Average ticket price increased 5.1 percent and concession revenues per patron increased 4.4 percent during the three months ended December 31, 2013.

In a release on February 19, the Company noted that net income attributable to Cinemark Holdings, Inc. for the three months ended December 31, 2013 was $15.6 million compared to $27.8 million for the three months ended December 31, 2012. Diluted earnings per share for the three months ended December 31, 2013 was $0.13 compared to $0.24 for the three months ended December 31, 2012. Net income for the three months ended December 31, 2013 included an after-tax loss of approximately $17.9 million on the Company's sale of its Mexico subsidiaries.

"The annual 2013 North American industry had a record-breaking year, achieving nearly $11 billion dollars in admissions revenues, which exceeded 2012's record box office," stated Tim Warner, Cinemark's Chief Executive Officer. "Our total worldwide revenues for the year grew 8.5 percent to a record $2.7 billion dollars. Our operations teams were able to leverage the attendance increase while simultaneously managing costs resulting in an all-time high Adjusted EBITDA of over $625 million dollars."

Cinemark Holdings, Inc.'s revenues for the year ended December 31, 2013 increased 8.5 percent to $2,682.9 million from $2,473.5 million for the year ended December 31, 2012. For the year ended December 31, 2013, admissions revenues increased 8.0 percent and concession revenues increased 9.6 percent, primarily due to a 4.9 percent increase in attendance, a 3.0 percent increase in average ticket price and a 4.4 percent increase in concession revenues per patron.

Net income attributable to Cinemark Holdings, Inc. for the year ended December 31, 2013 was $148.5 million compared to $168.9 million for the year ended December 31, 2012. Diluted earnings per share for the year ended December 31, 2013 was $1.28 compared to $1.47 for the year ended December 31, 2012. Net income attributable to Cinemark Holdings, Inc. for the year ended December 31, 2013 included a pre-tax loss on early retirement of debt of approximately $72.3 million.

As of December 31, 2013, the Company's aggregate screen count was 5,563 and the Company had commitments to open 21 new theatres and 178 screens during 2014 and 8 additional new theatres with 85 screens subsequent to 2014.

Cinemark is a domestic and international motion picture exhibitor, operating 482 theatres with 5,563 screens in 40 U.S. states, Brazil, Argentina and 10 other Latin American countries as of December 31, 2013.

More information:

investors.cinemark.com

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