Cinemark Holdings Posts Higher Profit In Q1 - Quick Facts

(RTTNews) - Cinemark Holdings Inc.'s (CNK) first-quarter net income attributable to the company grew 8.6% to $35.4 million, from last year's 32.6 million, with earnings per share climbing to $0.31, from $0.28 a year before. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.27 for the quarter. Analysts' estimates typically exclude one-time items.

Three-month revenues increased 9.9% to $602.3 million from $547.8 million for the year-ago quarter. Sixteen analysts estimated revenues of $590.81 million for the quarter. Admissions revenues were up 9.0% to $380.9 million and concession revenues rose 11.9% to $193.0 million.

"Cinemark followed up a record 2013 performance with an impressive quarter, celebrating a record-setting first quarter with $602.3 million in total worldwide revenues", said Tim Warner, Cinemark's Chief Executive. "The North American industry also experienced robust growth, with box office performance up approximately 5.5% from last year, as per the industry sources."