Regal Entertainment Profit Falls on Costs
From Bloomberg News
Regal Entertainment Group, the world’s largest movie theater operator, said its fiscal fourth-quarter profit fell 15% on costs from an advertising joint venture.
Net income dropped to $11.2 million, or 7 cents a share, from $13.1 million, or 9 cents, a year earlier, Knoxville, Tenn.-based Regal said. Revenue rose 1.4% to $585.1 million.
Profit excluding one-time costs was 9 cents a share, less than the estimate of 11 cents.
Regal operates Regal Cinemas, Edwards Theatres and United Artists Theatres.
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