RealD Beats Analysts Projections With Latest Earnings Report
Shares of the 3-D movie company were up as much as 5 percent in after-hours trading.
RealD reported a fiscal fourth-quarter loss and falling revenue, but its results beat the expectations of analysts and its stock was rising in after-hours trading on
Thursday, June 6.
The company reported a net loss of $4.3 million, as opposed to a profit of $5.5 million in the year ago quarter. Revenue was $45.4 million, down from $50 million a year ago.
STORY: RealD Signs 3D Technology Deal for 50 Cinemas in China
RealD said that seven films using its 3-D technology were released during the quarter that generated $614 million at the worldwide box office. In the same quarter a year ago, eight movies generated $589 million.
The company ended the quarter with 22,700 RealD-enabled screens, up 12 percent from a year ago.
Shares of RealD rose 51 cents to $14.96 on Thursday and kept rising as much as 5 percent after the closing bell when its earnings report was released.
Movie releases in the current quarter that use RealD include a Jurassic Park re-release, Iron Man 3, The Great Gatsby, Star Trek Into Darkness, Epic, Man of Steel, World War Z and Monsters University.
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