Cinemark holdings, inc. reports a 14.4% increase in adjusted ebitda
for q1 2015 to $147.1 million
Plano, texas--(business wire)--cinemark holdings, inc. (nyse: cnk), one of the largest motion picture exhibitors in the world, today reported results for the three months ended march 31, 2015. cinemark holdings, inc.’s revenues for the three months ended march 31, 2015 increased 7.2% to $645.4 million from $602.3 million for the three months ended march 31, 2014. admissions revenues increased 5.2% to $400.7 million and concession revenues increased 11.1% to $214.4 million. the average ticket price for the three months ended march 31, 2015 was $6.12, concession revenues per patron increased 4.1% to $3.27 and attendance increased 6.5%. adjusted ebitda for the three months ended march 31, 2015 was $147.1 million compared to $128.6 million for the three months ended march 31, 2014. reconciliations of non-gaap financial measures are provided in the financial schedules accompanying this press release. net income attributable to cinemark holdings, inc. for the three months ended march 31, 2015 increased to $42.5 million compared to $35.4 million for the three months ended march 31, 2014. diluted earnings per share for the three months ended march 31, 2015 was $0.37 compared to $0.31 for the three months ended march 31, 2014. “with our diverse global footprint, cinemark’s box office results continue to out-perform the north american industry, doing so for 23 out of 25 quarters on a currency adjusted basis,” stated cinemark’s chief executive officer tim warner. “we also continue to report remarkable statistics for concession per cap, achieving growth for 33 consecutive quarters and setting a new domestic record of $3.85. our success continues to be driven by our focus on utilization across our total worldwide platform, including our core circuit and enhanced concepts.” as of march 31, 2015, cinemark operated 497 theatres with 5,687 screens and had commitments to open eighteen new theatres with 162 screens during the remainder of 2015 and seven additional new theatres with 72 screens subsequent to 2015. conference call/webcast – today at 8:30am et telephone: via 888-755-8910 or 706-679-3149 (for international callers). live webcast/replay: available live at investors.cinemark.com. a replay will be available following the call and archived for a limited time. about cinemark holdings, inc. cinemark is a leading domestic and international motion picture exhibitor, operating 497 theatres with 5,687 screens in 41 u.s. states, brazil, argentina and 11 other latin american countries as of march 31, 2015. for more information go to investors.cinemark.com. forward-looking statements this press release includes "forward-looking statements" within the meaning of section 27a of the securities act of 1933, as amended, and section 21e of the securities exchange act of 1934, as amended. the “forward-looking statements” include our current expectations, assumptions, estimates and projections about our business and our industry. they include statements relating to future revenues, expenses and profitability, the future development and expected growth of our business, projected capital expenditures, attendance at movies generally or in any of the markets in which we operate, the number or diversity of popular movies released and our ability to successfully license and exhibit popular films, national and international growth in our industry, competition from other exhibitors and alternative forms of entertainment and determinations in lawsuits in which we are defendants. you can identify forward-looking statements by the use of words such as “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are intended to identify forward-looking statements. these statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. in evaluating forward-looking statements, you should carefully consider the risks and uncertainties described in the “risk factors” section or other sections in the company’s annual report on form 10-k filed february 27, 2015 and quarterly reports on form 10-q. all forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. forward-looking statements contained in this press release reflect our view only as of the date of this press release. we undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. (unaudited, in thousands) depreciation and amortization deferred lease expenses - theatres (2)
