Source: Yahoo! Movies

Chris Hemsworth (Star Trek) takes on the lead role of Thor in director Kenneth Branagh's adaptation of the popular comic book. Now, the first still has made its way to the web.

Thor landed the prime release date of May 6, 2011, which it means it will have the honor of kicking off the summer movie season next year. Paramount, the film's distributor, found great success in that release period with 2008's Iron Man, and they'll also do quite well with Iron Man 2 on May 7.

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KNOXVILLE, Tenn.-- Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced fiscal first quarter 2010 results.

Total revenues for the first quarter ended April 1, 2010 were $719.8 million compared to total revenues of $665.6 million for the first quarter ended April 2, 2009. Net income attributable to controlling interest was $16.5 million in the first quarter of 2010 compared to $21.3 million in the first quarter of 2009. Diluted earnings per share was $0.11 for the first quarter of 2010 compared to $0.14 for the first quarter of 2009. Adjusted diluted earnings per share(1) was $0.16 for each of the first quarters of 2010 and 2009. Adjusted EBITDA(2) was $135.1 million for the first quarter of 2010 and $130.0 million for the first quarter of 2009. 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 $0.18 per Class A and Class B common share, payable on June 15, 2010, to stockholders of record on June 3, 2010. 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 10% growth in our admissions revenue during the first quarter, along with record total revenues and Adjusted EBITDA," stated Amy Miles, CEO of Regal Entertainment Group. "Additionally, we are excited about the completion of the DCIP financing that will allow for an accelerated deployment of 3D capable screens across our circuit and also by the number of 3D titles included in the film slate for the remainder of 2010," Miles continued.

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 2009 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2010. All forward-looking statements are expressly qualified in their entirety by such factors.

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Total tweets for April 30th Openers

A Nightmare On Elm Street had 4,304 tweets on Wednesday, or 11.8% of the total Twitter buzz for all films opening in the next 4 months. By comparison, The Crazies had 1,068 tweets its Wednesday before release, Shutter Island had 3,687, and Saw VI had 1,926. Of those 4,304 tweets, 875 were positive (20.33%) and 426 negative (9.90%). It did very well on Wednesday and hit my expected 4,000 tweet mark. Expect fireworks today as it should likely come in upwards of 8,000 tweets for the day alone. The online buzz has been very solid here and the market appears to be eating it up after a definite void in gore at the Box Office in recent weeks. Expect its total tweet number to come in at around 19,000, and with a predicted ratio of ~1,200 we should see a $16 million Friday and $39 million for the weekend.

Surprise, but Furry Vengeance again struggled on Wednesday with only 397 tweets, or put another way only 1.10% of the total Twitter buzz for all films opening in the next 4 months. By comparison, The Spy Next Door had 342 tweets its Wednesday before release, and The Tooth Fairy had 445. Of those 397 tweets it had yesterday, 54 were positive (13.60%) and 38 negative (9.57%). The film is appealing to a very young crowd yes, so these total tweet numbers are not a complete kiss of death but it makes it very clear that this is not going to break into double digits. At this point it should hit about 1,600 tweets by the end of day today and with an expected ratio of 575 it should be on course for $2.75 million on Friday and $8.5 million for the weekend.

Check back tomorrow to see the Thursday numbers and the final BoxOffice.com predictions. Follow @AlexBOXOFFICE on Twitter for additional updates.

Twitter tracking history. (For 2009's ratio history please check here.)

alltweets042310.jpgThe ratio is the number of tweets per $1 million of Friday Box Office gross. A film with 1,000 tweets and a $10 million Friday would therefore have a ratio of 100. In general, films that appeal to very young or older audiences have lower ratios since those audiences are not big users of Twitter. By comparison, films that appeal to younger audiences (18-35) have much higher ratios since those audiences are much more active users of Twitter.

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MORRISTOWN, NJ & LOS ANGELES, CA -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced that it plans to more than double its network of satellite-enabled theatre locations across the United States by deploying an additional 300 locations by the end of 2010. This will increase Cinedigm's industry leading satellite-enabled theater network to more than 575 locations.

Satellite-enabled theaters represent the best-of-breed in modern exhibition. In addition to their ability to receive the latest theatrical content via satellite - which limits the carbon footprint of Hollywood distribution, among other benefits - they can also receive and present live events, such as sports.

To present live events, theaters can add CineLiveTM capability to their satellite infrastructure. Only 100 locations nationwide currently have this capability. That number will grow in tandem with this rollout. This elite group of theatres is equipped to bring live 2D and 3D events such the 2009 BCS Championship Game, the 2009 NBA All-Star Saturday Night events, and most recently, the 2010 NCAA Final Four and Championship games.

In addition to feature movies and alternative content, the Cinedigm satellite network delivers trailers, screen advertising, and encryption keys all via satellite, improving upon the less efficient need to deliver such content to theaters via truck.

"Satellite delivery is the most secure, the most efficient and the most environmentally friendly way to deliver movies and other content to theatres. Throughout the motion picture industry there are strong advocates leading the charge to be more ‘green.' We expect that Cinedigm's network expansion will serve as a catalyst for studios and independent distributors to embrace the many benefits satellite delivery brings to exhibitors and the environment," said Chuck Goldwater, President of Cinedigm's Media Services Group.

"Cinedigm's Digital Media Services Group delivers hundreds of pieces of content each week on the safest, most robust, and fastest satellite network in the cinema industry with exceptional reliability track record," said Gerd Jakuszeit, President of Cinedigm's Digital Media Services Group. "As the rollout of digital cinema theatres accelerates the addition of these satellite systems will enhance Cinedigm's ability to deliver content securely and cost effectively to even more locations."

 

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Company reports record revenues, earnings and EBITDA for any quarter in its 43-year history -- First Quarter 2010 total revenues increased 120% to $72.8 million vs. $33.1 million in First Quarter 2009 -- Adjusted EBITDA of $42.0 million in First Quarter 2010 vs. $7.0 million in First Quarter 2009 -- First Quarter 2010 Adjusted Net Income of $0.53 per diluted shared vs. Loss of $(0.06) per share in First Quarter 2009 -- First Quarter 2010 Reported Net Income of $0.40 per diluted share vs. Loss of $(0.06) per share in First Quarter 2009 -- Company Signs Deals for 41 Theatres in Q1, Higher than all of Fiscal 2009 -- Second Quarter to Date Gross Box Office up 78% versus last year as attention turns to Iron Man 2: The IMAX Experience

TORONTO, April 29, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today reported adjusted EBITDA (as defined by the Company's credit facility) of $42.0 million and $93.4 million for the first quarter and last twelve months ended March 31, 2010, respectively, compared to $7.0 million and $15.1 million for the first quarter and last twelve months ended March 31, 2009, respectively. Total revenue for the first quarter ended March 31, 2010 increased 120% to $72.8 million, a record for a single quarter for the Company, compared to total revenue of $33.1 million in the same period last year. First quarter 2010 adjusted net income, which excludes the impact of variable stock compensation, was $35.3 million, or $0.53 per diluted share, compared to an adjusted net loss of $2.6 million, or $(0.06) per share on the same basis last year. Reported net income was $26.6 million, or $0.40 per diluted share, for the first quarter ended March 31, 2010, compared to a reported net loss of $(2.6) million, or a net loss of $(0.06) per share for the first quarter last year.

During the first quarter of 2010, the Company signed contracts for 41 theatre systems including 19 joint revenue sharing system arrangements and 22 sales arrangements, of which 14 were digital system upgrades. This compares to a total of three system signings in the first quarter of 2009, all of which were system sales, and a total of 35 system signings for all of fiscal 2009. Since quarter-end, the Company has signed deals for another 13 theatre systems, many of which have been announced throughout the month of April.

"We are very pleased with our first quarter financial results," said IMAX Chief Executive Officer Richard L. Gelfond. "Our strong operating and financial performance demonstrates what can happen when great films are combined with our growing theatre network. While we are pleased to have generated record quarterly financial results, we believe the longer term benefits of titles such as Avatar and Alice in Wonderland to our business transcend a single quarter. Such benefits are perhaps best evidenced by the number of theatre deals we are doing, which will fuel additional growth for the Company over the long-term, and an increased level of tentpole movies being committed to the IMAX theatre network."

Adjusted first quarter 2010 net income and adjusted first quarter 2009 net loss exclude the impact of the changes in value of the Company's variable stock compensation. The first quarter of 2010 included an $8.7 million charge resulting primarily from the increased value of the Company's variable stock compensation at the end of the period (primarily driven by the $4.68 increase in the Company's stock price over the course of the first quarter, which impacts variable stock compensation), as compared to less than a $0.1 million charge from variable stock compensation in the first quarter of 2009. For a reconciliation of reported net income (loss) to adjusted results and the definition of adjusted EBITDA as defined by the Company's credit facility, please see the tables at the end of this press release.

Revenue from joint revenue sharing arrangements increased nearly nine-fold to $18.9 million in the first quarter of 2010, compared to $1.9 million in the prior year period. In the first quarter, the Company installed a total of six systems under joint revenue sharing arrangements, including one digital upgrade, compared to 22 such installations, including five digital upgrades, in the first quarter of 2009. As of March 31, 2010, a total of 122 theatres under joint revenue sharing arrangements were in operation, a 77% increase compared to 69 joint revenue sharing theatres operating as of March 31, 2009. Joint revenue sharing theatres open for the entire first quarter of 2010 generated gross box office per screen averages of approximately $665,000 compared to $152,000 last year.

In the first quarter of 2010, the Company recognized revenue on three full, new theatre systems with an average value of $1.6 million, compared to five in the first quarter of 2009, which also had an average value of $1.6 million. The Company also installed nine digital system upgrades in the fist quarter of 2010 compared to three in the same year-ago period. The Company has strategically elected to sell digital system upgrades at a lower sales price and gross margin than a new theatre system as the Company believes this initiative will help to drive box office revenue for its customers and IMAX by maximizing the number of IMAX titles they can show. Each period also included the sale of one used system. Due to the lower number of new systems installed this year versus last year, the increased amount of digital system upgrades, and settlement revenue of $1.2 million last year compared to zero this year, revenue from IMAX systems decreased 33% to $11 million in the first quarter of 2010, compared to $16.5 million in the first quarter of 2009.

Mr. Gelfond commented, "Our strategic initiative to upgrade our film-based network to digital continues to progress well, and our customers continue to show interest in upgrading their theatres from film to digital. Over the past 15 months, we have upgraded 35 film-based systems, and that pace has accelerated over the past six months. These digital upgrades will help to drive our box office revenue as well as that of our customers by maximizing the number of IMAX titles they can show."

Given recent deal signings for new systems, the Company now expects to install 40 to 45 joint revenue sharing theatres from backlog in fiscal 2010, up from its previous outlook of 35 to 40 installations. In addition, the Company expects to install approximately 15 to 20 new sales and sales-type lease systems (excluding upgrades) in 2010, up from its previous outlook of approximately 10 to 15 new installations. In any given year, the Company may also have a number of theatre deals that sign and install within the same calendar year. In addition, system installations can slip from period to period, often for reasons outside of the Company's control.

For the first quarter of 2010, total film revenue increased 275% to $29.3 million, compared to $7.8 million in the first quarter of 2009. Production and IMAX DMR(R) revenues increased to $23.5 million, compared to $3.7 million in the year ago period. First quarter results were driven by the stronger film slate in 2010 versus the same quarter in 2009 and the increased number of IMAX(R) theatres as compared to a year ago.

Gross box office from DMR titles was $232.2 million in the first quarter of 2010, compared to $28.0 million in the first quarter of 2009. The primary drivers of gross box office in the first quarter were Twentieth Century Fox's Avatar: An IMAX 3D Experience(R) and Disney's Alice in Wonderland: An IMAX 3D Experience. Avatar has generated approximately $231 million of worldwide box office to date ($171.9 million was captured in the first quarter of 2010). The 179 domestic theatres that played Avatar since December 18th had a per screen average of $714,000, and the international per screen average was $1,116,696. Alice in Wonderland has generated approximately $58.9 million in worldwide box office to date ($51.6 million of which was captured in the first quarter), for a domestic per screen average of $200,000 and international per screen average of $242,000. On March 26th, DreamWorks Animation's How To Train Your Dragon:An IMAX 3D Experience was released day-and-date to IMAX theatres and has generated approximately $26.3 million in worldwide box office to date ($8.2 million of which was captured in the first quarter) for a per screen average of approximately $107,000 to date.

The Company commented that second quarter 2010 gross box office to date equals $30.0 million, a 78% increase compared to $16.8 million in the same timeframe for the second quarter of 2009.

First quarter 2010 gross margin increased to $48.3 million, or 66.4% of revenue, from $14.2 million, or 42.9% of revenue in the first quarter of 2009. The primary drivers of the increase in gross margin were the Company's joint revenue and DMR film business segments.

First quarter 2010 selling, general and administrative expenses, excluding the $8.7 million variable stock compensation charge, was $10.8 million, or 14.8% of revenue, relatively flat compared to $10.8 million, or 32.7% of revenue, on the same basis in the first quarter of 2009. Reported first quarter selling, general and administrative expense was $19.5 million, compared to $10.9 million in the year ago period.

The Company ended the first quarter with cash and cash equivalents of $23.5 million, compared to $18.7 million at the end of last year's first quarter and $20.1 million as of year end 2009. During the quarter, the Company paid down $10 million of its bank debt, resulting in net debt of $16.5 million as of quarter end, compared to $161.3 million at the end of last year's first quarter and $29.9 million as of year end 2009.

Mr. Gelfond concluded, "2010 is off to a great start, and we are pleased with the positive momentum fueling our business. We believe we have a very strong film slate for 2010, and with yesterday's film deal inked with Warner Bros. and new theatre announcements, we are beginning to paint a picture of 2011 and beyond. We are particularly pleased with the many theatre signings overseas, where our brand is gaining traction and where we see much of our future growth residing, providing a complement to our brand's strong foothold in North America."

As of March 31, 2010, the Company's backlog consisted of 156 theatre systems, compared to 190 theatre systems in backlog as of March 31, 2009. Included in the 2010 and 2009 system backlog totals were 56 and 89 theatres, respectively, under joint revenue sharing arrangements and 100 and 101 theatres, respectively, under sales and sales-type lease arrangements. As of March 31, 2010, 172 digital systems were in operation, compared to 73 as of March 31, 2009.

2010 Film Slate

Turning to the 2010 film slate, Paramount Pictures and Marvel Entertainment will release Iron Man 2: The IMAX Experience day-and-date to 182 domestic IMAX theatres on May 7th and many of the 67 international IMAX theatres slated to play the film start this weekend. Following Iron Man 2, the Company's announced 2010 film slate to date includes DreamWorks Animation's Shrek Forever After: An IMAX 3D Experience(May 2010); Walt Disney Pictures' Prince of Persia: Sands of Time: The IMAX Experience (May 2010, international only); Walt Disney Pictures' Toy Story 3: An IMAX 3D Experience (June 2010); Summit Entertainment's The Twilight Saga: Eclipse: The IMAX Experience (June 2010); Warner Bros. Pictures' Inception: The IMAX Experience (July 2010); Warner Bros. Pictures' Legends of the Guardian: The Owls of Ga'hoole: An IMAX 3D Experience (September 2010); Warner Bros. Pictures' Harry Potter and the Deathly Hallows: Part 1: An IMAX 3D Experience(November 2010); and Walt Disney Pictures' Tron Legacy: An IMAX 3D Experience (December 2010). Yesterday, the Company announced a multi-picture deal with Warner Bros. Pictures to release up to 20 pictures in the IMAX format between 2010 and 2013. Under the agreement, Warner Bros. movies that have already been agreed to be released in IMAX are the above referenced Legends of the Guardian: The Owls of Ga'Hoole 3D (September 24, 2010) and Harry Potter and the Deathly Hallows: Part 1 (3D) (November 19, 2010), as well as Harry Potter and the Deathly Hallows: Part II (3D) (July 15, 2011); Happy Feet 2 (3D) (November 18, 2011); and The Hobbit (December 2012). The Company remains in active discussions with all of the major studios regarding potential future titles.

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