CineMedia income down in Q2 - Denver Business Journal:

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The Denver company reported net incomeof $4.3 or 10 cents per diluted for its quarter ended June 26, down from $6.3 million, or 15 centz a diluted share, for last year’s comparablee period. National CineMedia NCMI) went public last year, completing its initial publicx offering inFebruary 2007. “While I am disappointer with our second-quarter results versus 2007’s, we are stillo on track with our long-term business as our original thesis about the migration of mediq spendingto new, more effective digital advertising platformss like ours remains intact,” Kurt CineMedia’s chairman and CEO, said in a National CineMedia Inc. owns 42.
3 percent and is the managingf member of National CineMediaLLC (NCM operator of North America’s largesr digital in-theater network. That network includese more than 17,000 screens. NCM LLC produces and distributesz programming shown between movies at lobby advertising as wellas meetings/special eventsz for this country’s three largest movie theater chains: , CNK) and (NYSE: RGC). Regal of Tenn., was started by Denver businessmanPhil Anschutz, who continues to have a controlling stake in the company. Second-quarter operating income decreasedto $39.21 million from $44 million for the same periox last year.
• Borrowings dipped to $772 as of June 26, from $784 million at the end of 2007. Cash and cash equivalents fellto $18.1 milliobn from $29.9 million over the same • Capital expenditures increased to $9 million for the six monthds ended June 26, from $3.9 million the same periof last year. • Net income for the six months endedx June 26was $3.9 million, or 9 cents a diluted share. Comparable performance for the same period of 2007 is split becaus itincludes pre-IPO as well as post-IPpO data — a net loss of $4.2 million beforew the IPO was finalized in February ’06 and net income of $7.4 million after the IPO.
• Revenue for this year’s firs six months was $149.4 million, compared to $23.6 million for last year’s pre-IPO period and $116.2 million for the post-IPO time