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Earnings Roundup / Regal

Profit is lower than expected

February 20, 2009|Times Wire Reports

Cinema operator Regal Entertainment Group said fourth-quarter sales and profit missed analysts' estimates.

Including a $3.4-million pretax gain from the sale of the company's interest in online ticket vendor Fandango Inc., net income rose to $30.1 million, or 20 cents a share, from $23.2 million, or 15 cents, a year earlier, the company said.

Excluding some items, the company posted profit of 18 cents a share, less than the 26-cent average of analysts' estimates compiled by Bloomberg.

Sales increased 19% to $711.7 million, missing the $726.5-million average estimate of analysts.

Regal shares fell 94 cents, or 9.1%, to $9.36.

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