KNOXVILLE, Tenn. -- Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced fiscal fourth quarter 2010 results.

Total revenues for the fourth quarter ended December 30, 2010 were $661.0 million compared to total revenues of $765.6 million for the fourth quarter ended December 31, 2009. Net income attributable to controlling interest was $13.7 million in the fourth quarter of 2010 compared to $35.5 million in the fourth quarter of 2009. Diluted earnings per share was $0.09 for the fourth quarter of 2010 compared to $0.23 during the fourth quarter of 2009. Adjusted diluted earnings per share(1) was $0.12 for the fourth quarter of 2010 compared to $0.27 during the fourth quarter of 2009. Adjusted EBITDA(3) was $116.3 million for the fourth quarter of 2010 and $156.8 million for the fourth quarter of 2009. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.

Regal's Board of Directors also today declared a cash dividend of $0.21 per Class A and Class B common share, payable on March 15, 2011, to stockholders of record on March 3, 2011. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.

"We were pleased to end 2010 with an extraordinary dividend for our shareholders," stated Amy Miles, CEO of Regal Entertainment Group. "The increase in our recurring dividend to $0.21 per share illustrates our confidence in the Company's ability to generate significant free cash flow and our commitment to returning value to shareholders," continued Miles.

Forward-looking Statements:
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the risk factors contained in the Company's 2009 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2010. All forward-looking statements are expressly qualified in their entirety by such factors.

 

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NEW YORK, NY and SANTA MONICA, CA -- The espionage thriller The Debt will be distributed for Miramax by Focus Features and Universal Pictures International (UPI). Focus will release The Debt in the U.S. nationwide on Wednesday, August 31st, and UPI will release the film internationally.

Directed by Academy Award nominee John Madden (Shakespeare in Love), The Debt stars Academy Award winner Helen Mirren, Sam Worthington (Avatar, Clash of the Titans), Jessica Chastain (soon to be seen in The Tree of Life), Marton Csokas (Universal's upcoming Dream House), Jesper Christensen (Casino Royale and Quantum of Solace), Ciarán Hinds (Focus' Miss Pettigrew Lives for a Day), and two-time Academy Award nominee Tom Wilkinson. The screenplay, by Matthew Vaughn & Jane Goldman and Peter Straughan, is adapted from the 2007 Israeli film Ha-Hov. The producers of The Debt are Mr. Vaughn and Kris Thykier through Marv Films, Eitan Evan, and Eduardo Rossof; Tarquin Pack is the film's executive producer.

The story begins in 1997, as shocking news reaches retired Mossad secret agents Rachel (played by Ms. Mirren) and Stefan (Mr. Wilkinson) about their former colleague David (Mr. Hinds). All three have been venerated for decades by their country because of the mission that they undertook back in 1966, when the trio (portrayed, respectively, by Ms. Chastain, Mr. Csokas, and Mr. Worthington) tracked down Nazi war criminal Vogel (Mr. Christensen) in East Berlin. At great risk, and at considerable personal cost, the team's mission was accomplished - or was it? The suspense builds in and across two different time periods, with startling action and surprising revelations.

Mike Lang, CEO of Miramax, said, "We are very pleased to announce our partnership with Focus and UPI. The Debt continues Miramax's proud history of producing the highest-quality films, with the most respected talent and directors. We believe the film will be well-received by audiences worldwide, and it will be a powerful addition to the Miramax library."

"Given Focus' tradition of dramatic thrillers that unfold in exotic locations, The Debt makes for a worthy addition to our 2011 release slate," said Focus CEO James Schamus. "The picture is taut with nail-biting tension, and spotlights powerful performances from its gifted cast. We are also excited to partner with Miramax and its new team."

"What was a strong script has become an excellent film - and the kind of terrific thriller that works so well in the international marketplace. Everyone at UPI is proud to be distributing the picture," said UPI president, international production and acquisitions Christian Grass.

Producer Kris Thykier commented, "We are delighted that Focus and Universal Pictures International have come on board. Their enthusiasm for the movie is palpable, their track record is second to none, and we couldn't wish for better partners. We are especially grateful to the new Miramax for their commitment to finding the right home for the film."

 

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justinbiebernews.pngThe top five daily sellers as of 8 a.m. PT:

Justin Bieber: Never Say Never: 71%
Gnomeo and Juliet: 7%
Just Go With It: 5%
The King's Speech: 3%
No Strings Attached: 2%

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Los Angeles -- One of the nation's most innovative theater circuits has cemented its bond with the nation's leading movie ticketing destination.

Cobb Theatres, a leader in unique moviegoer experiences including reserved seating, fine dining and cinema technology at 222 screens across the country, has renewed its agreement with Fandango, the largest online, mobile and phone  destination for moviegoers, till 2016. The Alabama-based exhibitor has been a leader in operating movie theaters since 1921.

Cobb's CineBistro brand, which combines fine-dining, wine bars and great movies in one location, has six different venues, comprising 34 screens across the country. According to a recent Fandango survey, 68% of moviegoers said that the dine-in moviegoing experience is a major plus for a night out.

"We enjoy working with Fandango due to its leading position as the nation's top ticketer and provider of movie information," says Jeremy Welman, Chief Operating Officer of Cobb Theatres. "Fandango is always on the forefront of new moviegoer services like mobile ticketing, reserved seating and print-at-home, and we look forward to continued mutual success."

"Cobb is a progressive company and a great partner for us," says Rick Butler, Chief Operating Officer and General Manager of Fandango. "They are constantly looking for new ways to enhance the moviegoer experience. With Fandango's consumer-friendly portfolio of products, we have helped Cobb triple its online ticket sales in the past three years."

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