RealD Offers Mixed Quarterly Results
The 3D movie company posts a bigger loss than expected but brings in more revenue than anticipated.
RealD on Monday reported fiscal second-quarter results that fell short of the expectations of analysts on the bottom line but beat them on the top line.
The 3D movie company also lowered guidance for operating expenses in the current quarter.
RealD said revenue was $55 million, down from $88 million in the year-ago quarter when movies from the Harry Potter and Transformers franchises were in theaters. Analysts expected about $47 million in revenue.
RealD's net loss was $4.2 million, or 8 cents per share, down from a profit of $19.2 million a year ago. Analysts expected the company to lose only 4 cents per share.
In the current quarter, RealD expects operating expenses of up to $100 million, about $5 million less than it previously expected due in part to "slower than anticipated growth in headcount."
Titles coming up this quarter for RealD include Wreck-it-Ralph, Rise of the Guardians and The Hobbit: An Unexpected Journey. Titles in the next quarter include The Texas Chainsaw Massacre 3D, Oz: The Great and Powerful and The Croods.
Shares of RealD fell 3 percent during the regular session to $9.17 and were unchanged during the after-hour session.
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