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Further information can be found in the disclosure documents filed by Cineplex with the securities regulatory authorities, available at www.sedar.com.
You are cordially invited to participate in a teleconference call with the management of Cineplex (TSX: CGX) to review our quarterly results. Ellis Jacob, President and Chief Executive Officer and Gord Nelson, Chief Financial Officer, will host the call. The teleconference call is scheduled for:
Thursday, February 7, 201310:00 a.m. Eastern Time
In order to participate in the conference call, please dial 416-644-3414 or outside of Toronto dial 1-800-814-4859 at least five to ten minutes prior to 10:00 a.m. Eastern Time. Please quote the conference ID 4590520 to access the call.
-- If you cannot participate in the live mode, a replay will be available. Please dial 416-640-1917 or 1-877-289-8525 and enter code 4590520#. The replay will begin at 12:00 p.m. Eastern Time on Thursday, February 7, 2013 and end at 11:59 p.m. Eastern Time on Thursday, February 14, 2013.-- Note that media will be participating in the call in listen-only mode.-- Thank you in advance for your interest and participation.Cineplex Inc.Consolidated Balance Sheets(expressed in thousands of Canadian dollars)-------------------------------------------------------------------------------------------------------------------------------------------------------- December 31, December 31, 2012 2011AssetsCurrent assetsCash and cash equivalents $ 47,774 $ 48,992Trade and other receivables 70,625 67,185Inventories 5,187 4,118Prepaid expenses and other current assets 3,047 3,727 --------------------------- 126,633 124,022Non-current assetsProperty, equipment and leaseholds 418,142 389,532Deferred income taxes 53,528 12,052Interests in joint ventures 41,764 26,163Intangible assets 78,460 84,379Goodwill 608,929 608,929 --------------------------- $ 1,327,456 $ 1,245,077 --------------------------- --------------------------- December 31, December 31, 2012 2011LiabilitiesCurrent liabilitiesAccounts payable and accrued expenses $ 127,318 $ 112,285Dividends payable 7,063 6,285Share-based compensation - 1,331Income taxes payable 13,654 17,485Deferred revenue 94,397 83,907Finance lease obligations 2,222 2,411Fair value of interest rate swap agreements 513 565Convertible debentures - 76,864 ---------------------------- 245,167 301,133 ----------------------------Non-current liabilitiesShare-based compensation 12,223 9,466Long-term debt 148,066 167,531Fair value of interest rate swap agreements 273 1,199Finance lease obligations 20,548 26,474Post-employment benefit obligations 6,274 5,688Other liabilities 141,319 103,727Deficiency interests in joint ventures 6,272 8,250 ---------------------------- 334,975 322,335 ----------------------------Total liabilities 580,142 623,468 ----------------------------EquityShare capital 847,235 764,801Deficit (102,547) (140,469)Accumulated other comprehensive loss (1,142) (2,723)Contributed surplus 3,768 - ---------------------------- 747,314 621,609 ---------------------------- $ 1,327,456 $ 1,245,077 ---------------------------- ----------------------------Cineplex Inc.Consolidated Statements of Operations(expressed in thousands of Canadian dollars, except net income per share)------------------------------------------------------------------------------------------------------------------------------------------------------ Three months ended December 31, Year ended December 31, ------------------------------------------------- 2012 2011 2012 2011RevenuesBox office $ 170,524 $ 133,735 $ 638,296 $ 577,348Concessions 86,409 68,161 329,332 291,638Other 41,757 39,792 124,238 129,209 ------------------------------------------------- 298,690 241,688 1,091,866 998,195 -------------------------------------------------ExpensesFilm cost 87,477 68,757 331,281 299,404Cost of concessions 18,077 14,015 68,398 60,737Depreciation and amortization 16,934 16,812 62,058 68,115(Gain) loss on disposal of assets (3,138) 731 (2,352) 735(Gain) on acquisition of business (930) - (24,752) -Other costs 134,754 116,918 490,369 466,425Share of loss of joint ventures 586 1,361 1,375 269Interest expense 2,090 6,968 12,585 24,854Interest income (58) (94) (205) (898) ------------------------------------------------- 255,792 225,468 938,757 919,641 -------------------------------------------------Income before income taxes 42,898 16,220 153,109 78,554 -------------------------------------------------Provision for (recovery of) income taxesCurrent 8,795 5,482 31,436 17,493Deferred 1,399 (193) 1,189 11,801 ------------------------------------------------- 10,194 5,289 32,625 29,294 -------------------------------------------------Net income $ 32,704 $ 10,931 $ 120,484 $ 49,260 ------------------------------------------------- -------------------------------------------------Basic net income per share $ 0.53 $ 0.19 $ 1.98 $ 0.86Diluted net income per share $ 0.52 $ 0.19 $ 1.97 $ 0.85Cineplex Inc.Consolidated Statements of Comprehensive Income(expressed in thousands of Canadian dollars)------------------------------------------------------------------------------------------------------------------------------------------------------ Three months ended Year ended December December 31, 31, ----------------------------------------- 2012 2011 2012 2011Net income $ 32,704 $ 10,931 $ 120,484 $ 49,260 -----------------------------------------Other comprehensive (loss) incomeIncome (loss) on hedging instruments 225 (242) 2,486 3,704Associated deferred income taxes expense (190) (12) (905) (2,893)Actuarial losses of post-employment benefit obligations (190) (812) (190) (812)Associated deferred income taxes recovery 50 210 50 210 -----------------------------------------Other comprehensive (loss) income (105) (856) 1,441 209 -----------------------------------------Comprehensive income $ 32,599 $ 10,075 $ 121,925 $ 49,469 ----------------------------------------- -----------------------------------------
