RealD Narrows Q2 Loss Amid 69% Revenue Jump

http://www.hollywoodreporter.com/news/reald-narrows-q2-loss-69-34661

 

10:39 PM 11/2/2010 by Carl DiOrio

The digital-cinema systems leasor reported $5.1 million in red ink for the three-month period ended Sept. 24, compared with a $5.4 million loss it absorbed in the year-ago quarter.

RealD on Tuesday posted a narrowed loss in its fiscal second quarter amid a 69% revenue climb on an expanding customer base.

The publicly traded leasor of digital-cinema systems reported $5.1 million in red ink for a three-month period ended Sept. 24. That compared with a $5.4 million loss that Los Angeles-based RealD absorbed in the year-ago quarter.

Quarterly revenue rose to $65.3 million. Its deployed systems reached 93,000 screens in the quarter, representing a 182% increase from a year earlier.

"RealD delivered solid results in the second quarter of fiscal 2011 led by the strength of the RealD platform and our expanding global footprint," RealD chief Michael Lewis said. "As our second-quarter performance validates, consumer demand for a premium 3D visual experience continues to accelerate. As a global leader in licensing 3D technologies, we believe RealD is uniquely positioned to capture this growing opportunity in 3D cinema.

RealD released its financial results after the close of market trading. Its shares rose 12 cents to $22.21 in regular trading Tuesday.