Cinemark Holdings (NYSE: CNK) $17.92. Today announced results for the three and nine months ended September 30, 2010. Separately, Cinemark Holdings, Inc.’s Board of Directors approved a new dividend policy, under which the Company has increased its annual dividend 16.7% to $0.84 per share of common stock, or $0.21 per share quarterly.
Cinemark Holdings, Inc.’s revenues for the three months ended September 30, 2010 increased 12.8% to $560.2 million from $496.8 million for the three months ended September 30, 2009. For the three months ended September 30, 2010, admissions revenues increased 13.8% to $367.6 million and concession revenues increased 11.2% to $170.2 million. The increases were primarily related to an 8.8% increase in attendance, a 4.7% increase in average ticket price and a 2.4% increase in concession revenues per patron.
Adjusted EBITDA for the three months ended September 30, 2010 increased 19.4% to $125.1 million from $104.8 million for the three months ended September 30, 2009. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.
Net income attributable to Cinemark Holdings, Inc. for the three months ended September 30, 2010 increased 58.6% to $33.3 million compared to $21.0 million for the three months ended September 30, 2009.
What They Do: Cinemark is a leading domestic and international motion picture exhibitor, operating 428 theatres with 4,938 screens in 39 U.S. states, one Canadian province, Brazil, Mexico and 11 other Latin American countries as of September 30, 2010.
American Tower Corporation (NYSE: AMT) $52.41. Today announced financial results for the three and nine months ended September 30, 2010. American Tower generated the following operating results for the three months ended September 30, 2010 (unless otherwise indicated, all comparative information is presented against the quarter ended September 30, 2009):
Total revenue increased 15.6% to $513.3 million, and rental and management segment revenue increased 16.1% to $499.8 million. Rental and management segment Gross Margin increased 16.5% to $388.0 million. Network development services revenue and Gross Margin were $13.5 million and $5.9 million, respectively. Total selling, general, administrative and development expense was $57.3 million, including $13.4 million of stock-based compensation expense. Adjusted EBITDA increased 15.1% to $350.0 million, and the Adjusted EBITDA Margin was 68%.
What They Do: American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites. American Tower currently owns and operates over 33,000 communications sites in the United States, Latin America and India.
DISH Network Corporation (Nasdaq: DISH) $20.69. Today announced total revenue of $3.21 billion for the quarter ended September 30, 2010, a 10.9 percent increase compared with $2.89 billion for the corresponding period in 2009.
Net income attributable to common shareholders totaled $245 million for the quarter ended September 30, 2010, compared with $81 million during the corresponding period in 2009. Basic earnings per share were $0.55 for the quarter ended September 30, 2010, compared with basic earnings per share of $0.18 during the corresponding period in 2009.
DISH Network lost approximately 29,000 net subscribers during the quarter ended September 30, 2010, ending the quarter with approximately 14.289 million subscribers.
What They Do: DISH Network Corporation through its subsidiary DISH Network L.L.C., provides more than 14.2 million satellite TV customers, as of September 30, 2010, with the highest quality programming and technology at the best value, including HD Free for Life.
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