National CineMedia Inc. Q2 2015 Results
Gail Chiasson, North American Editor
Centennial, Colorado-based National CineMedia Inc., the managing member and owner of 45.2% of National CineMedia, the operator of the largest in-theatre digital media network in North America, announced that total revenue for Q2 ended July 2, 2015, increased 21.6% to $121.5 million from $99.9 million for the comparable quarter last year.
Adjusted OIBDA increased 29.6% to $67.4 million from $52.0 million for the second quarter of 2014. Net income for the second quarter of 2015 was $10.1 million compared to net income of $3.6 million for Q2, 2014.
Total revenue for the six months ended July 2, 2015, increased 16.6% to $198.4 million from $170.1 million for the comparable period last year. Adjusted OIBDA increased 27.5% to $95.1 million from $74.6 million for the first six months of 2014. Net income for the first six months of 2015 was $1.1 million compared to net income of $0.5 million for the first six months of 2014.
Commenting on the Company’s second quarter operating results, Kurt Hall, NCM’s chairman and CEO, who is retiring (see separate article) said, “Our record second quarter advertising revenue and Adjusted OIBDA and strong third quarter guidance reflect the hard work of the NCM team.” Mr. Hall continued, “A very successful upfront campaign last year and several quarters of video market share gains provides clear evidence that media buyers are looking for premium video alternatives where they know their ads will be seen.”
For the third quarter of 2015, the Company expects total revenue to be up 8% to 13% and Adjusted OIBDA is expected to be up 7% to 17% from the third quarter of 2014. The Company expects total revenue in the range of $109.0 million to $114.0 million during the third quarter of 2015, compared to total revenue for the third quarter of 2014 of $100.8 million and Adjusted OIBDA in the range of $56.0 million to $61.0 million during the third quarter of 2015 compared to Adjusted OIBDA for the third quarter of 2014 of $52.2 million.
For full year 2015, the Company has updated its outlook and expects total revenue to be up 8 % to 10% and Adjusted OIBDA to be up 8% to 12 % from the full year 2014. The Company expects total revenue in the range of $42 5 .0 million to $43 3 .0 million for the full year 2015, compared to total revenue for the full year 2014 of $394.0 million and Adjusted OIBDA in the range of $21 5 .0 million to $22 3.0 million for the full year 2015 compared to Adjusted OIBDA for the full year 2014 of $199.3 million.
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