RealD ended up with a net loss, but the stock price is +5.2% after hours after the 3D technology company surprised the Street with help from its overseas expansion efforts. In the quarter that ended in March, RealD had a net loss of $4.4M, down from a $5.5M profit in the period last year, on revenues of $45.4M, -9.2%. The revenue figure topped forecasts of about $43M. And the net loss at 9 cents a share was better than the 19 cent loss analysts anticipated. The soft box office early this year contributed to the downturn. Domestic ticketbuyers spent $268M at RealD-enabled screens, -20.5%, though overseas sales were +37.3% to $346M. The company had 22,700 screens globally at the end of March, up 500 from the end of 2012. CEO Michael Lewis says that international expansion will continue to be a big part of RealD’s story this year. Its largest customer in Latin America, Cinepolis, “entered into an expanded agreement to equip at least 400 additional auditoriums with RealD 3D technology across the Cinepolis circuit in Latin America, the United States and India within the next 12 months,” he says.
- Investment & Company Information