National CineMedia -- the in-theater and on-screen advertising network -- posted strong revenues in the first quarter of this year.
Revenue climbed 11.5% to $80.2 million with a net loss widening at $1.9 million, versus a $1.3 million net loss in 2017, the company reported on Monday.
National CineMedia says operating income more than doubled -- up 115.7% to $11 million. NCM’s stock closed Monday up 15% to $6.43.
The company says CEO transition-related costs contributed to the bigger loss. Without this, it would have been the same versus a year ago.
National advertising revenue climbed 23% in the period to $54.8 million, with local advertising dipping 9% to $17.4 million. Total advertising (excluding beverage revenues) was up 14% to $72.2 million.
For all of 2018, the company expects total revenue will range from flat to up 4.5% -- totaling $425 million to $445 million.
NCM’s “Noovie” pre-show runs in 54 leading national and regional theater circuits; over 20,800 screens in more than 1,650 theaters in 187 markets.