Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced fiscal third quarter 2012 results.
Total revenues for the third quarter ended September 27, 2012 were $692.9 million compared to total revenues of $743.6 million for the third quarter ended September 29, 2011. Net income attributable to controlling interest in the third quarter of 2012 was $24.0 million compared to $25.0 million in the third quarter of 2011. Diluted earnings per share was $0.15 for the third quarter of 2012 compared to $0.16 for the third quarter of 2011. Adjusted diluted earnings per share (1) was $0.17 for the third quarter of 2012 compared to $0.19 for the third quarter of 2011. Adjusted EBITDA (3) was $133.7 million for the third quarter of 2012 compared to $146.3 million for the third quarter of 2011. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.
Regal’s Board of Directors also today declared a cash dividend of $0.21 per Class A and Class B common share, payable on December 14, 2012, to stockholders of record on December 5, 2012. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.
“Our operating results continue to benefit from our focus on efficient operations as we achieved an Adjusted EBITDA margin of over 19% for the third consecutive quarter and our highest ever Adjusted EBITDA total for the first nine months of the year,” stated Amy Miles, CEO of Regal Entertainment Group. “Industry box office results for the first few weeks of the fourth quarter have been very strong and we are optimistic regarding the box office prospects for the upcoming holiday season.”
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