UPDATE 1-Cinemark Q3 results top Wall Street view

Mon Nov 9, 2009 1:05pm GMT
 
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* Q3 shr $0.19 vs est $0.16

* Q3 rev $496.8 mln vs est $478.5 mln

* Says Q4 box office off to good start

* Says South American countries outpace U.S.

Nov 9 (Reuters) - Movie-theatre operator Cinemark Holdings Inc (CNK.N) posted better-than-expected quarterly results, partly helped by its strong performance in the South American countries and increased presence in international markets.

"The fourth quarter box office is off to a good start, as patrons continue to enjoy the cinema as an exciting, low cost form of entertainment," Chief Executive Alan Stock said in a statement.

The company said South American countries continue to outpace the U.S. economic recovery and it benefited from "solid" industry trends and the expansion of its international portfolio.

Net income for the third-quarter rose 3 percent to $21 million, compared with $20.4 million in the year-ago quarter. On a per share basis, net income was flat at 19 cents.

Revenues rose 4 percent to $496.8 million. Attendance for the three months ended Sept. 30 rose by 4.5 percent.  Continued...

 

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