National CineMedia Sets a Sales Record
National CineMedia reported Wednesday that its revenue and net income were little changed in the quarter but the cinema advertising company set a sales record in 2010 of $427.5 million, up 12 percent over the prior year.
In the fourth quarter, National CineMedia earned $11.6 million, up from $11.2 million in the same quarter a year ago. Revenue came in at $118.1 million, down from $118.6 million last year.
Advertising revenue grew slightly to $103.2 million but revenue at its Fathom Events unit, which specializes in unusual shows and gatherings at movie theaters, was off nearly 7 percent.
The advertising CPM rates increased almost 6 percent year-over-year.
“While our fourth quarter growth slowed, it capped a year that exceeded our expectations and once again outpaced the broader media marketplace,” CEO Kurt Hall said.
Shares of National CineMedia were off 3 percent to $17.94 during regular trading Wednesday and were little changed after the closing bell when it issued its financial report.
The company also said it would issue a quarterly cash dividend of 20 cents per share of common stock, amounting to a 4.2 percent annual dividend as of Wednesday.