, which also owns the Century, Tinseltown and Rave chains, saw earnings rise last quarter to $26.3 million, or 22 cents a share, as attendance and revenue slipped.Revenue of $789 million was down by $10 million. The Plano, Texas-based circuit said attendance fell to 43.3 million from 46.3 million.
The financials were shy of expectations but shares were trading higher in the pre-market, up 1.71%. The company announced an 8-cent dividend hike to $1.44. Sales from admissions of $434 were down from $445 million, with average ticket prices up 3.2% to $6.81.Concession revenues per patron increased 4.6% to $4.31.CEO Mark Zoradi cited a “fifth consecutive year of record global revenue … as benefits derived from strategic initiatives enabled us to surpass North American industry box office results” in 2019.
Cinemark operates 554 theatres with 6,132 screens in 42 states domestically and 15 countries throughout South and Central America. It runs the subscription program. And touts a high luxury lounger recliner seat penetration among major players, its branded premium large format, and expansive food and beverage options.
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