Banner
Banner

Variety.com

  • Denzel Washington Reveals Why ‘Equalizer 2’ Was His First Sequel
    Denzel Washington offered a bemused reaction as to why Sony’s “The Equalizer 2” was his first sequel. “People keep talking about it, but it’s not that big a deal,” he reflected at Tuesday night’s world premiere at the TCL Chinese Theatre in Hollywood. “Is there a curse for doing sequels?” Washington, who has nine Academy […]
  • Epic Drops Unreal Engine Update Packed With Cinematic, ‘Fortnite’ Development Improvements
    Unreal Engine 4.20 launched Wednesday, delivering on the promise of the Epic Games’ stunning Game Developers Conference keynote earlier this year and packed with tools and optimization yanked from their ever-evolving game “Fortnite.” The update to the game-creation engine includes hundreds of optimizations, especially for iOS, Android, and Nintendo Switch, which were originally built for […]
  • Steph Curry Says He Would ‘Jump’ at the Chance to Act
    Golden State Warriors star Steph Curry is already a champion on the basketball court, and now the athlete is ready to dribble over to the entertainment business. In a cover story interview, Curry told Variety he’s keeping his acting options open, biding his time until a slam dunk of a project comes along. The MVP also discussed […]
  • Alfonso Cuaron’s ‘Roma’ Set as New York Film Festival’s Centerpiece
    Alfonso Cuaron’s family drama  “Roma” has been set as the Centerpiece movie for the 56th New York Festival for an Oct. 5 screening at Alice Tully Hall. The Film Society of Lincoln Center made the announcement Wednesday. “Roma” is produced by Esperanto Filmoj and Participant Media. Netflix will launch “Roma” on its streaming service and […]
  • House Considers Proposal to Cut NEA Funding by 15%
    WASHINGTON — The House of Representatives may vote on Wednesday on an effort to cut funding for the National Endowment for the Arts and the National Endowment for the Humanities by 15%. Rep. Glenn Grothman (R-Wis.) proposed the funding cut via an amendment to a larger government funding bill, arguing that the purpose was to […]
Home Movie Biz News

THR.com

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
http://www.variety.com/index.asp?layout=chart_pass&charttype=chart_BO250
 
weekly box office 4-10/4-16
http://www.variety.com/index.asp?layout=b_o_layout&dept=Film
 
What thieves want from Hollywood
http://www.slate.com/id/2216328?nav=wp
 
Ebert reviews "State of Play"
http://rogerebert.suntimes.com/apps/pbcs.dll/article?AID=/20090415/REVIEWS/904159989
 


attraction attraction
attraction
attraction
attraction
attraction