This was due largely to a 52.8% increase in advertising revenue, to $76.7 million--a testament to the continuing rapid growth of cinema advertising. Overall income rose to $6.3 million, compared with a net loss of $1.2 million in the second quarter.
While national ad inventory remained basically flat, local and regional advertising enjoyed a boom, growing 47.6%. The company saw a 6.9% increase in the average number of theaters used in the network.
Chairman and CEO Kurt Hall said: "Our company had a very busy quarter as we posted strong revenue growth and margin expansion, completed the integration of Cinemark's Century theaters into our sales process, completed a key network affiliate deal and made our first investment to expand our network reach beyond cinema." National CineMedia Inc. is a co-venture of AMC, Cinemark USA and Regal.
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