NCM Announces Q3 Results
Gail Chiasson, North American Editor
Centennial, Colorado-based National CineMedia Inc , managing member and owner of 45.2% of National CineMedia, LLC, the operator of the largest in-theatre digital media network in North America, last week announced consolidated results for the fiscal third quarter ended October 1, 2015.
Total revenue for the quarter ended October 1, 2015, increased 10.8% to $111.7 million from $100.8 million for the comparable quarter last year. Adjusted OIBDA increased 14.2% to $59.6 million from $52.2 million for the third quarter of 2014. Net income for the third quarter of 2015 was $7.7 million, compared to net income of $4.8 million for Q3 2014.
Total revenue for the nine months ended October 1, 2015 increased 14.5% to $310.1 million from $270.9 million for the comparable period last year. Adjusted OIBDA increased 22.0% to $154.7 million from $126.8 million for the first nine months of 2014. Net income for the first nine months of 2015 was $8.8 million, compared to net income of $5.3 million for the first nine months of 2014.
The Company announced today that its Board of Directors has authorized the Company’s regular quarterly cash dividend of $0.22 per share of common stock. The dividend will be paid on December 4, 2015 to stockholders of record on November 20, 2015.
Commenting on the Company’s third quarter operating results, Kurt Hall, NCM’s chairman and CEO said, “Our business continued to benefit from the structural changes that are reshaping the broader media marketplace. The Company’s 27% Q3 2015 national revenue growth over 2014, combined with an approximate 15% increase in our national upfront commitments for calendar 2016, while the national TV upfront was down, provided clear evidence that we are gaining video advertising market share.
“The increase in our annual guidance for 2015 reflects higher than expected national inventory utilization, continued CPM growth and a strong finish to the year by our local business. We also expect to benefit from a highly anticipated Q4 film slate that is anchored by several tent pole films, including Star Wars.
“I am very proud of our NCM team as 2015 will represent a record year for each of our national and local advertising businesses. With great sales momentum coming out of 2015, the launch of more robust targeting and data analytics products early next year and the expansion of our local sales force, we are very well positioned for continued growth in 2016 and beyond.”
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