Regal entertainment group reports results for fourth quarter 2015 and
declares quarterly dividend
Knoxville, tenn.--(business wire)--regal entertainment group (nyse: rgc), a leading motion picture exhibitor owning and operating the largest theatre circuit in the united states, today announced fiscal fourth quarter 2015 results. total revenues for the fourth quarter ended december 31, 2015 were $848.2 million compared to total revenues of $799.1 million for the fourth quarter ended january 1, 2015. net income attributable to controlling interest was $55.0 million in the fourth quarter of 2015 compared to $46.3 million in the fourth quarter of 2014. diluted earnings per share was $0.35 for the fourth quarter of 2015 compared to $0.30 for the fourth quarter of 2014. adjusted diluted earnings per share (1) was $0.36 for the fourth quarter of 2015 compared to $0.30 for the fourth quarter of 2014. adjusted ebitda(3) was $175.7 million for the fourth quarter of 2015 compared to $163.6 for the fourth quarter of 2014. beginning january 2, 2015, regal’s fiscal year changed from a 52-53 week fiscal year ending on the first thursday after december 25 of each year to a fiscal year ending on december 31 of each year. as a result of the calendar change, the fourth quarter of 2015 consisted of six fewer days than the fourth quarter of 2014 and the fiscal 2015 period consisted of seven fewer days than the fiscal 2014 period. reconciliations of non-gaap financial measures are provided in the financial schedules accompanying this press release. regal’s board of directors also today declared a cash dividend of $0.22 per class a and class b common share, payable on march 15, 2016, to stockholders of record on march 4, 2016. the company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the board of directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors. “we are pleased to report that 2015 was a record year for regal entertainment group. a strong film slate, our investment in premium amenities, and our consistent focus on operational execution helped us achieve new annual records for total revenues, adjusted ebitda, average ticket price and average concession sales per patron,” stated amy miles, ceo of regal entertainment group. “looking ahead, we are excited about the opportunity to bring premium amenities to even more theaters and customers in 2016.” 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. all statements included herein, other than statements of historical fact, may constitute forward-looking statements. although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. important factors that could cause actual results to differ materially from the company’s expectations are disclosed in the risk factors contained in the company’s 2014 annual report on form 10-k filed with the securities and exchange commission (the “sec”) on march 2, 2015 and in the company’s quarterly report on form 10-q filed with the sec on august 10, 2015. all forward-looking statements are expressly qualified in their entirety by such factors. conference call:regal entertainment group management will conduct a conference call to discuss fourth quarter 2015 results on february 9, 2016 at 4:30 p.m. (eastern time). interested parties can listen to the call live on the internet through the investor relations section of the company’s website: www.regmovies.com, or by dialing 877-407-0778 (domestic) and 201-689-8565 (international). please dial in to the call at least 5 - 10 minutes prior to the start of the call or go to the website at least 15 minutes prior to the call to download and install any necessary audio software. when prompted, ask for the regal entertainment group conference call. a replay of the call will be available beginning approximately two hours following the call. those interested in listening to the replay of the conference call should dial 877-660-6853 (domestic) or 201-612-7415 (international) and enter conference call id #13595838. about regal entertainment groupregal entertainment group (nyse: rgc) operates the largest and most geographically diverse theatre circuit in the united states, consisting of 7,361 screens in 572 theatres in 42 states along with the district of columbia, american samoa, guam and saipan as of december 31, 2015. the company operates theatres in 46 of the top 50 u.s. designated market areas. we believe that the size, reach and quality of the company’s theatre circuit not only provide its patrons with a convenient and enjoyable movie-going experience, but is also an exceptional platform to realize economies of scale in theatre operations. additional information is available on the company’s website at www.regmovies.com. regal entertainment groupconsolidated statements of income informationfor the fiscal quarters and four quarters ended 12/31/15 and 1/1/15(in millions, except per share data)(unaudited) weighted average number of diluted shares outstanding(2) consolidated summary balance sheet information(dollars in millions)(unaudited) as ofdec. 31, 2015 as ofjan. 1, 2015 $ 147.1 2,539.5 2,360.2 (894.8 ) operating data(unaudited) reconciliation of ebitda to net cash provided by operating activities(dollars in millions)(unaudited) reconciliation of ebitda to adjusted ebitda(dollars in millions)(unaudited) cash distribution from other non-consolidated entities 1.6 6.3 3.6 6.3 noncontrolling interest, net of tax and equity in income of non-consolidated entities and other, net (12.0 (9.4 (38.5 ) (29.4 ) reconciliation of net cash provided by operating activities to free cash flow(dollars in millions)(unaudited) reconciliation of net income attributable to controlling interest to adjusted diluted earnings per share(dollars in millions, except per share data)(unaudited) loss on extinguishment of debt, net of related tax effects net income attributable to controlling interest, excluding loss on extinguishment of debt, net of related tax effects, gain on sale of available for sale securities, net of related tax effects, and net loss on disposal, impairment of operating assets and other, net of related tax effects weighted average number of diluted shares outstanding(2) _________________________
