Cinemark Holdings, Inc. (NYSE:CNK) announced earnings for the fiscal 2014 period and the company has some positive growth. Fourth quarter revenue was reported at $659.9 million which is a small gain over the same period last year. Revenue gains were buoyed by a rise in average ticket prices. Ticket prices came in at an average of $6.12 while concessions revenue per customer came in at $3.12. Admission revenues contributed $404.7 million while concessions added a total of $214 million.
Strong Bottom Line Growth
The company showed a profit for the quarter of $156.9 million, that’s compared to $140 million the same period a year ago. It’s per share profit came in at 41 cents. The company also posted a after-tax loss for its sale of its Mexican subsidiaries. Cinemark Holdings, Inc. (NYSE:CNK) led its industry in domestic ticket sales last year. It added 170 state-of-the-art screens to its portfolio and benefited from some blockbuster hits. They also completed its conversion to digital projection bringing higher quality to movie goers worldwide.
A Good Year
Full year revenue was reported at 2.6 billion and the company showed a bottom line profit for the period. Profits totaled $192 million for an EPS of $1.66. They also retired $72 million of debt created by early retirement programs. Cinemark Holdings, Inc. (NYSE:CNK) has a total of 5,676 screens worldwide and also opened 18 new theaters, added 158 screens and looks to add another 53 screens in 2015.Executivees are looking forward to 2015 as a slew of major releases is set toroll.50 Shades of Grey is one of them and Marvel also plans to release more of its comic book franchises this year.
The stock has set new highs and needs to consolidate. The run up was orderly and the volume was strong. The stock is not heavily over bought so there is more room for momentum gains. At some point it will have to consolidate but for now it’s a strong and should continue to set new highs.