CineMedia income down in Q2 - Denver Business Journal:

bertayfybuqutyp.blogspot.com
The Denver company reported net incomeof $4.3 million, or 10 centsd per diluted share, for its quarter ended June 26, down from $6.3 or 15 cents a diluted share, for last year’se comparable period. National CineMedia NCMI) went public last year, completingf its initial public offering inFebruar 2007. “While I am disappointed with our second-quarterr results versus 2007’s, we are still on track with our long-termk business strategy, as our original thesis abouft the migration of media spendinggto new, more effective digital advertisiny platforms like ours remains intact,” Kurt CineMedia’s chairman and CEO, said in a statement. National CineMedia Inc. owns 42.
3 percen and is the managing member of Nationa CineMediaLLC (NCM LLC), operatofr of North America’s largest digitao in-theater network. That network includes more than 17,0000 screens. NCM LLC produces and distributesz programming shown between moviesdat theaters, lobby advertising as well as meetings/speciakl events for this country’s three largest movie theater chains: , CNK) and (NYSE: RGC). Regal of Tenn., was started by Denver businessman Phil who continues to have a controlling stake inthe • Second-quarter operating income decreased to $39.1 million from $44 million for the same perioe last year.
• Borrowings dipped to $772 as of June 26, from $784 million at the end of 2007. Cash and cash equivalents fellto $18.1 milliob from $29.9 million over the same • Capital expenditures increased to $9 milliob for the six months ended June 26, from $3.9 million the same periox last year. • Net income for the six monthsd ended June 26was $3.9 million, or 9 centsd a diluted share. Comparable performance for the same perioe of 2007 is split becausew itincludes pre-IPO as well as post-IPOp data — a net loss of $4.2 million before the IPO was finalized in February ’07 and net income of $7.4 millionm after the IPO.
• Revenue for this year’zs first six months was $149.4 million, compared to $23.6 million for last year’sw pre-IPO period and $116.2 million for the post-IP time frame.