National CineMedia, Inc. Reports Results For Fiscal Third Quarter 2016

National CineMedia, Inc. (NASDAQ: NCMI) (the Company), the managing member and owner of 43.6% of National CineMedia, LLC (NCM LLC), the operator of the largest in-theatre digital media network in North America, today announced consolidated results for the fiscal third quarter and nine months ended September 29, 2016.

Total revenue for the third quarter ended September 29, 2016 increased 1.6% to $113.5 million from $111.7 million for the comparable quarter last year. Adjusted OIBDA increased 2.2% to $60.9 million for the third quarter of 2016 from $59.6 million for the third quarter of 2015. Net income for the third quarter of 2016 was $8.2 million, or income of $0.13 per diluted share, compared to a net income of $7.7 million, or income of $0.13 per diluted share, for the third quarter of 2015. As adjusted to exclude a loss on early retirement of debt, the reversal of a reserve for uncertain tax positions and CEO transition-related costs, net income for the third quarter of 2016, would have remained $0.13 per diluted share.

Total revenue for the nine months ended September 29, 2016 decreased 1.6% to $305.1 million from $310.1 million for the comparable period last year. Adjusted OIBDA decreased 6.7% to $144.3 million for the first nine months of 2016 from $154.7 million for the first nine months of 2015. Net income for the first nine months of 2016 was $10.7 million, or income of $0.18 per diluted share, compared to net income of $8.8 million, or income of $0.15 per diluted share for the first nine months of 2015. As adjusted to exclude a loss on early retirement of debt, the costs associated with the terminated merger with Screenvision and certain other non-recurring items set forth in the table at the end of this release, net income for the first nine months of 2016 would have been $0.20 per diluted share and net income for the first nine months of 2015 would have been $0.32 per diluted share. Adjusted OIBDA and adjusted earnings per share are non-GAAP measures. See the tables at the end of this release for the reconciliations to the closest GAAP basis measurement.

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