Strong Spring Sales Boost Exhibitors

The strong box-office performance of movies released last spring is beginning to be reflected in the quarterly reports of the nation's theater chains. Cinemark, which operates 4,889 screens worldwide said its profits rose 20 percent to $18.7 million on revenue of $517.5 million. Ticket sales were up 115.2 percent to $339.1 million, while concession sales were up 12.3 percent to $158.9 million. Most impressively, said CEO Alan Stock, was the fact that overseas attendance outpaced the U.S. "Consumers continue to prove they value the cinema as one of the most attractive forms of out-of-home entertainment," he said. Nevertheless, because of the weakened dollar, overseas revenue was up only 1.1 percent over last year.

Thanks AP.