RealD Shares Advance After Quarterly Financial Report
Shares of RealD were up more than 3 percent after the closing bell Wednesday, when the licensor of 3D technology for movies released quarterly earnings that impressed Wall Street.
The company said revenue was $40.6 million in its fiscal fourth quarter, down from $45.4 million a year ago. Its net loss was $5 million, up from a net loss of $4.3 million.
The company said for the year it generated $13 million in cash flow, which CEO Michael Lewis attributed to a cost-reduction plan and a focus on expansion in high-growth areas of the country.
During the quarter, box office generated on RealD screens was $499 million, with $273 million coming from international markets. Both numbers were down compared to a year earlier.
As of the end of the quarter, RealD had about 13,400 screens in 3,000 theaters domestically and 11,800 screens in 2,900 theaters in foreign markets.
In the current quarter, 3D films using RealD's system include Godzilla, Maleficent, Edge of Tomorrow, How to Train Your Dragon 2 and Captain America: The Winter Soldier.
Shares of RealD ended the regular session 2 percent higher Wednesday at $11.70 and were up an additional 40 cents after the closing bell.