Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced fiscal fourth quarter 2012 results.
Total revenues for the fourth quarter ended December 27, 2012 were $723.1 million compared to total revenues of $613.9 million for the fourth quarter ended December 29, 2011. Net income attributable to controlling interest was $37.3 million in the fourth quarter of 2012 compared to $4.1 million in the fourth quarter of 2011. Diluted earnings per share was $0.24 for the fourth quarter of 2012 compared to $0.03 during the fourth quarter of 2011. Adjusted diluted earnings per share (1) was $0.28 for the fourth quarter of 2012 compared to $0.10 during the fourth quarter of 2011. Adjusted EBITDA (3) was $152.3 million for the fourth quarter of 2012 and $99.4 million for the fourth 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 March 15, 2013, to stockholders of record on March 5, 2013. 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.
“We are pleased to report that 2012 was a record year for Regal. We achieved our highest ever Adjusted EBITDA totaling almost $580 million and our highest Adjusted EBITDA margin in the last six years. Additionally, our accretive acquisition of the Great Escape theatre circuit combined with the $1 special dividend declared and paid in the fourth quarter clearly demonstrate our commitment to creating value for our shareholders,” stated Amy Miles, CEO of Regal Entertainment Group. “Looking ahead, we are encouraged by the early 2013 box office results and the films scheduled for release in the coming months,” Miles continued.
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