COMPANY TOWN / ENTERTAINMENT EARNINGS
- Share via
Regal Entertainment Group, the world’s largest theater operator, said first-quarter profit declined 23% on rising film rental and advertising costs.
Net income fell to $21.3 million, or 14 cents a share, from $27.5 million, or 17 cents, a year earlier, the company said. Sales rose 6.2% to $665.6 million.
Admissions at theaters in the U.S. and Canada rose 10% during the quarter, boosting sales 12% to $2.38 billion, according to researcher Media by Numbers. Admissions at Regal overall increased 6.4% to $459.5 million.
Regal operates Regal Cinemas as well as United Artists Theatres and Edwards Theatres.
Shares of the Knoxville, Tenn., company fell 29 cents, or 2.2%, to $13.06.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
