Regal Entertainment Group (RGC) has reported a 2 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $53.90 million, or $0.34 a share in the quarter, compared with $55 million, or $0.35 a share for the same period last year. On an adjusted basis, earnings per share were at $0.33 for the quarter compared with $0.36 in the same period last year. Revenue during the quarter dropped 4.20 percent to $812.60 million from $848.20 million in the previous year period. Gross margin for the quarter contracted 18 basis points over the previous year period to 96.38 percent. Total expenses were 88.31 percent of quarterly revenues, up from 87.99 percent for the same period last year. That has resulted in a contraction of 32 basis points in operating margin to 11.69 percent.
Operating income for the quarter was $95 million, compared with $101.90 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $172.60 million compared with $175.70 million in the prior year period. At the same time, adjusted EBITDA margin improved 53 basis points in the quarter to 21.24 percent from 20.71 percent in the last year period.
"Our continued focus on delivering a premium movie-going experience to our customers coupled with record industry box office results produced meaningful revenue growth, market share gains and record operating results for Regal in 2016," stated Amy Miles, chief executive officer of Regal Entertainment Group. "Looking ahead, we are excited about near-term opportunities for further growth and a robust and exciting slate of films scheduled for release in the coming years."
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