• Anthony Mason, Former New York Knicks Player, Dies at 48
    Anthony Mason, a longtime NBA star who played for the New York Knicks from 1991 to 1996, died early Saturday morning, ESPN reports. He was 48. The 13-year NBA veteran, who played for six teams, was diagnosed with congestive heart failure earlier this month and underwent multiple heart surgeries. “First I want to thank all... Read more »
  • Dave Annable Lands Male Lead in NBC Medical Drama ‘Heart Matters’
    Dave Annable has been cast as the male lead in NBC’s medical drama “Heart Matters,” Variety has learned. Annable, who recently starred in “Red Band Society” and previously “Brothers & Sisters,” will co-star opposite Melissa George, who was cast earlier this week in the lead role. He will play her boyfriend. The medical soap, inspired by the... Read more »
  • Kristen Stewart Joins Kelly Reichardt’s Montana Drama
    Kristen Stewart has joined Michelle Williams and Laura Dern in Kelly Reichardt’s untitled drama, set in Montana. Stewart will portray a lawyer from Boise, Idaho, who takes a teaching job several hours from her house. After taking the job, Stewart’s character develops a friendship with a local woman who’s auditing her class. Stewart was seen... Read more »
  • Bill Cosby Seeks Dismissal of Accusers’ Defamation Suit
    Bill Cosby is seeking dismissal of a defamation lawsuit filed by three women who claim that his representatives falsely branded them as liars after they each alleged he sexually assaulted them in the 1970s. In their motion for dismissal, Cosby’s attorneys denied “each and every one of the allegations of sexual misconduct” leveled at him... Read more »
  • FilmAid International Names Meryl Frank Exec Director
    FilmAid International announced today that Meryl Frank will be the humanitarian org’s new exec director. The former mayor of Highland Park, N.J. joins FilmAid International from an ambassador position at the United Nations Commission on the Status of Women. Frank is also currently president and CEO of international consulting firm Makeda Global Network, which focuses on women’s... Read more »
Home Movie Biz News

Regal profit falls; box office receipts lag

LOS ANGELES (Reuters) – Regal Entertainment Group, the No. 1 U.S. movie theater operator, posted a lower quarterly profit and said its box office receipts failed to match up to the brisk pace of the industry.

Shares of Regal fell 4.7 percent on Thursday, after it said box office receipts per screen were flat year-over-year in its fiscal first quarter, which ran from January 2 to April 2, while industry-wide box office receipts rose about 1.5 to 2 percent per screen over the same period.

"Investors look really close at how Regal performs versus the industry and were slightly disappointed they underperformed," said Barton Crockett, an analyst with Lazard Capital Markets, who nevertheless said he was encouraged by a strong summer line-up for the box office and the company's expectations it will command higher 3-D ticket premiums.

Regal said net income fell to $21.3 million, or 14 cents a share, in its fiscal first quarter that ended April 2, from $27.5 million, or 17 cents a share, a year earlier.

Excluding special items, profit was 14 cents a share, below analysts' average forecast of 16 cents, according to Reuters Estimates.

Regal blamed some of the lag on the timing of its fiscal quarter and the loss of some high-volume holidays such as New Year's Day. U.S. box office receipts rose 9.5 percent in the calendar first quarter, Regal said.

On a conference call, Regal CEO Michael Campbell said 3-D films like "Monsters vs. Aliens" had commanded premiums of $3.50 to $4.00 on tickets, but that he expected those premiums to increase with more 3-D releases, eventually hitting $5.

He also said Regal and other theater chains were working on completing a financing agreement with major studios so that more screens can be upgraded digitally to accommodate a big upcoming slate of 3-D films.

Campbell said Regal was monitoring the swine flu situation but that it had not had any impact on attendance.

"We have pre-established plans and procedures in place to make sure facilities are safe for staff and guests," he said.

Regal said it was looking ahead to an action-packed summer film slate featuring both proven franchise films and big-budget original films.

Regal's shares were down 63 cents or 4.7 percent at $12.72 on the New York Stock Exchange on Thursday afternoon.

(Reporting by Sue Zeidler and Tiffany Wu, editing by Dave Zimmerman and Matthew Lewis)


Top 250 films of 2008
weekly box office 4-10/4-16
What thieves want from Hollywood
Ebert reviews "State of Play"

User Login

Little Giant Ladders


You need the Flash plugin.

Download Macromedia Flash Player

attraction attraction