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AMC Entertainment Revenues Surge Behind Strong Q1 Box Office

6/17/2014

By Todd Cunningham
TheWrap

AMC Entertainment's revenues rose 6.8 percent in the first quarter of 2014, driven by a 5.1 percent increase in movie theater attendance and a 1.7 percent hike in average ticket prices, the giant exhibition chain reported Tuesday.

Box-office hits including "Ride Along" and "The Lego Movie" helped drive the revenues to $622.8 million, up from $577.8 million a year ago, in the company's second quarter as a publicly traded company. AMC's net loss for the quarter was $4.5 million compared to $10.3 million during the same period in 2013. Net loss per share was $0.05 compared to $0.13 from last year's first quarter.

Food and beverage revenues increased 8.2 percent, driven by the attendance improvement and a 2.8 percent increase in food and beverage revenues per patron.

Also read:  AMC Developing First Scripted Comedy, Kevin Smith Talk Show

Losses from continuing operations were $4.8 million compared to $15.2 million for the same three months a year ago. The loss per share from continuing operations was $0.05 compared to $0.20 for the same period a year ago. Adjusted EBITDA for the year's first three months was $102 million compared to $82.1 million a year ago.

The post AMC Entertainment Revenues Surge Behind Strong Q1 Box Office appeared first on TheWrap.

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