amc.pngBoard of Directors Increases 2014 Capital Expenditures

LEAWOOD, Kan.--(BUSINESS WIRE)-- Due to continuing improvement in operating results at theatres where AMC Entertainment Holdings, Inc. ("AMC" or "the Company") has deployed strategic initiatives, the Company's Board of Directors announced today it is increasing calendar year 2014 authorized capital expenditures by approximately $39 million to accelerate the rollout of its on-going customer experience initiatives. The additional capital will support AMC's strategic focus on more guest comfort and convenience, enhanced food and beverage, and premium sight and sound.

"Our comfort and convenience strategic action front, best illustrated by our recliner reseats, continues to significantly outperform the industry, even in a cyclical year," said Gerry Lopez, AMC president and chief executive officer. "Our Board and our team are hitting the accelerator on what our guests have told us works. These innovations are increasing the productivity of existing assets, improving revenue per customer visit and driving shareholder value."

The approximately $39 million represents a nearly 20 percent increase from the estimated $200 million in planned net cash outlays in 2014. Actual total capital spending for 2014 will be approximately $265-$285 million, before expected landlord contributions of $35-$55 million.

The additional 2014 capital investment will primarily support the acceleration of recliner re-seat initiatives, additional MacGuffins bars and IMAX screens in AMC theatres. As of June 30, 2014, AMC had recliner re-seats in 44 locations with 505 screens, 74 MacGuffins and 148 IMAX screens, which makes AMC North America's leading and largest IMAX distributor.

In December of 2013, AMC announced a $600 million, five-year recliner re-seat investment. During the second quarter of 2014, admissions revenues per screen increased by 33 percent and Adjusted EBITDA more than doubled at AMC's 44 recliner re-seat locations.

The Company does not expect the capital spending acceleration to impact its anticipated 2014 Adjusted EBITDA or its quarterly dividend, but does expect the theatres benefiting from the accelerated investment to be better positioned to capitalize on the anticipated improvements in the 2015 film line up. For more information, please review the Company's 8-K filing.

About AMC Entertainment Holdings, Inc.

AMC (NYSE:AMC) is the guest experience leader with 342 locations and 4,968 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country's top markets, including No. 1 market share in the top three markets (NY, LA, Chicago). www.amctheatres.com

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "estimate," "project," "intend," "expect," "should," "believe," "continue," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, decreased supply, quality and performance of, and delays in our access to, motion pictures; risks relating to our significant indebtedness; our ability to utilize net operating loss carry forwards to reduce future tax liability; increased competition in the geographic areas in which we operate and from alternative film delivery methods and other forms of entertainment; the impact of shorter theatrical exclusive release windows; the impact of governmental regulation, including anti-trust review of our acquisition opportunities; and unexpected delays and costs related to, and customer acceptance of, our strategic initiatives.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of these risks and uncertainties, see the section entitled "Risk Factors" in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 4, 2014, and our other public filings. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances, except as required by applicable law.

 

AMC Entertainment Holdings, Inc.
Investor Relations:
Dan Foley, 866-248-3872
InvestorRelations@amctheatres.com
or
Media:
Jessica Liddell, 203-682-8200
Jessica.Liddell@icrinc.com

Source: AMC Entertainment Holdings, Inc.

 

Read more

gdc.pngHong Kong (September 18, 2014) - GDC Technology Limited ("GDC Technology"), a world leading digital cinema solutions provider, is pleased to announce that its mastering software, GDC DCP Packager, has been certified by Dolby Laboratories for mastering Dolby Atmos® soundtracks. The certification formally recognizes its capabilities in creating Dolby Atmos Digital Cinema Packages (DCPs).

"The Expendables 3" is the first film using GDC DCP Packager for Dolby Atmos mastering, which was handled by GDC Digital Services, a 100% owned subsidiary of GDC Technology. GDC Digital Services also provided Chinese subtitling, mastering in 2D and D-BOX formats, DCP replication and Key Delivery Management (KDM) for "The Expendables 3". The film was widely released in Hong Kong on 4th September.

GDC Digital Services' clients include major Hollywood and local independent studios. With operations in Hong Kong, USA, Singapore, Japan and China, it offers an array of post production services including digital cinema mastering (2D and 3D), DCP creation and packaging, subtitling, hard drive creation and replication, and KDM (Digital Key) creation, as well as delivery and management to content owners and distributors.

"Adding support for Dolby Atmos mastering makes GDC DCP Packager more powerful as customers can now rely on a trusted name to create and deliver Dolby Atmos DCPs," said Pranay Kumar, CTO of GDC Technology. "Achieving this certification crystallizes the company's commitment and capabilities in offering industry leading digital cinema products to filmmakers and distributors worldwide."

GDC Technology is actively expanding its service portfolio by building partnerships with technology leaders in the cinema industry. In 2013, it entered a digital cinema strategic alliance with Technicolor, enabling the company to provide in-country drive replication, distribution and KDM support for the East and Southeast Asia region.

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

About GDC Technology Limited (www.gdc-tech.com)
GDC Technology Limited ("GDC Technology") is a digital cinema solutions provider. GDC Technology develops, manufactures and sells digital cinema servers, content storage systems, theater management systems and network operations center software for digital cinema. GDC Technology also provides a suite of digital cinema products and services, including integrated projection systems, 3D products, projector lamps and silver screens. GDC Technology's subsidiary, GDC Digital Cinema Network Limited, manages VPF for approximately 5,000 theater screens and 250 motion picture distributors worldwide.

 

Read more

volfoni.pngVolfoni, the global 3D technology solutions leader and creator of the groundbreaking 3D cinema system, SmartCrystalTM Diamond, confirmed today that it will vigorously challenge RealD's Utility Model (UM) patent in Russia. Volfoni has started the process to invalidate RealD's UM patent at the Chamber for Patent Disputes of the Russian Patent Office. Volfoni strongly believes RealD's Russian UM patent does not bring any innovation to 3D technology, nor to any of Volfoni's internationally filed patent applications.

Volfoni has concluded that RealD's UM patent filed in Russia is not valid because of its blatant lack of novelty. UM patent applications in Russia do not undergo substantive examination in the Russian Patent Office, and are only examined for compliance with formal requirements. Volfoni asserts that RealD's Russian UM patent is a wrongful attempt to suppress competition in the manufacture and sale of 3D cinema projection systems in Russia, and specifically Volfoni's innovative and superior SmartCrystalTM Diamond. Accordingly, Volfoni demands further investigation and examination by the Russian Patent Office.

"Volfoni respects innovation and competition in the marketplace. RealD continues to try to threaten our clients and partners around the world, without any legitimate legal grounds. Any attempt by RealD to mis-use its Russian UM patent against Volfoni's products or to intimidate our clients and partners will not be tolerated. We stand with our customers and behind our products" said Thierry Henkinet, President, Volfoni Group.

Volfoni filed and has been granted numerous innovation patent applications in France for its 3D technologies and these patents have been filed around the world. Most recently, Volfoni's unique "triple beam" technology that is used in its premier 3D cinema system SmartCrystalTM Diamond was granted a Chinese patent by the State Intellectual Property Office in China.

About VOLFONI

Since its founding in 2007, Volfoni has grown to become one of the premier companies in 3D cinema, and recently has released on the international market the SmartCrystalTM Diamond 3D cinema projection system, which is powered by its newly engineered Triple Beam technology that gives 3D movies an extremely bright and clear picture with a light efficiency close to 30%. Volfoni has offices in France, Spain, Germany, the United Kingdom, Hong Kong, India, and Los Angeles, California. For more information, please visit our website at www.volfoni.com.

Read more

upcoming091914b.jpg

By Alex Edghill

Wednesday Morning Update: The Maze Runner continued to lead the pack on Tuesday despite dropping 12% to 12,375 tweets. Facebook on the other hand had a very hefty increase of 25k+ to 865,140 likes. By comparison, The Hunger Games had 37,820 tweets and 3,054,892 likes its Tuesday before release, Divergent had 75,277 tweets and 1,060,953 likes, while The Giver had 6,777 tweets and 374,863 likes. While its Twitter numbers are nothing extraordinary its Facebook tallies are hard to ignore and really point to  a strong beginning.

A Walk Among The Tombstones had a strong increase on Tuesday of 230% to 2,366 tweets while Facebook also somewhat less encouraging with a sub 1% rise to 279,084 likes. By comparison, Non-Stop had 3,895 tweets and 384,224 likes its Tuesday before release, while Prisoners had 471 tweets and 98,890 likes. The film is lagging notably to recent Neeson thrillers and while I have it a ways above Prisoners its important to note that because of the latter's very common name a more restrictive search string had to be employed to weed out unrelated tweets and served as a limiter to its numbers (in fact Non-Stop also employed quite a restrictive string and still handily beat out Tombstones too). I see a decent opening here of low to mid double figures but nothing approaching $20 million given these signs.

This Is Where I Leave You had a 7% fall to 1,727 tweets on Tuesday, down from 1,857 tweets on Monday, while Facebook grew to 206,409 likes, up from 203,857 likes the day before. By comparison, The Other Woman had 9,149 tweets and 147,093 likes its Tuesday before release, while The Internship had 4,971 tweets and 247,638 likes. The dwindling tweet totals are somewhat of a worry as is the lag between its Facebook likes and director Shawn Levy's last film The Internship. Double digits still look to be assured but as of right now I'd say it looks to be bringing up the rear amongst the new openers once the weekend dollars are tallied.

Twitter Top 15 Movies for Tuesday September 16th

Rk Film Mon Tue Week Mon-Tue %
1 (-) The Hunger Games: Mockingjay Part 1 160,028 33,344 193,372 -79.16%
2 (-) If I Stay 14,622 15,942 30,564 9.03%
3 (-) The Maze Runner 14,059 12,375 26,434 -11.98%
4 (+3) Avengers: Age of Ultron 4,837 11,638 16,475 140.60%
5 (+9) Into the Woods 1,588 9,582 11,170 503.40%
6 (-2) Guardians of the Galaxy 9,492 7,680 17,172 -19.09%
7 (-2) Annabelle 6,533 6,029 12,562 -7.71%
8 (+22) Interstellar 656 5,844 6,500 790.85%
9 (-3) No Good Deed (2014) 5,739 4,692 10,431 -18.24%
10 (-2) The Hobbit: The Battle of the Five Armies 4,294 3,173 7,467 -26.11%
11 (-2) Before I Go to Sleep 3,336 2,967 6,303 -11.06%
12 (+15) A Walk Among the Tombstones 715 2,366 3,081 230.91%
13 (+4) Gone Girl 1,344 2,085 3,429 55.13%
14 (+2) The Equalizer 1,349 1,983 3,332 47.00%
15 (-3) Ouija 2,253 1,920 4,173 -14.78%
18 (-5) This Is Where I Leave You 1,857 1,727 3,584 -7.00%

Please check the methodology page for information about our Twitter project or here for historic data.

Read more

sep12.png

By Daniel Garris

Sony's No Good Deed took in $1.82 million on Tuesday to lead the daily box office for a fifth consecutive day. The low-budget thriller from Screen Gems starring Idris Elba and Taraji P. Henson increased 13 percent over Monday. That represented one of the day's poorer daily holds among wide releases on Tuesday. In the bigger picture, No Good Deed continues to outpace expectations with a healthy five-day start of $27.68 million. That places the film 7 percent ahead of the $25.96 million five-day take of 2009's I Can Do Bad All By Myself.

Guardians of the Galaxy held steady in second place with $0.779 million. The blockbuster sci-fi superhero adaptation from Disney and Marvel was up 35 percent over Monday and down a very slim 17 percent from last Tuesday. Daily percentage increases over Monday were strong in general on Tuesday. Guardians of the Galaxy is the highest grossing release of 2014 thus far domestically with $307.34 million through 47 days.

Dolphin Tale 2 grossed $0.703 million to remain in third place. Like Guardians of the Galaxy, the family film sequel from Warner Bros. also increased 35 percent over Monday. Dolphin Tale 2 has grossed $17.10 million in five days. That is on the lower end of pre-release expectations and places the film 18 percent behind the $20.78 million five-day start of 2011's Dolphin Tale.

Fox Searchlight's The Drop stayed in fourth place with $0.492 million. The crime drama starring Tom Hardy, Noomi Rapace and the late James Gandolfini was up 28 percent over Monday's performance. The Drop has grossed $4.98 million in four days, which represents a very solid start given that the film is only playing in 809 locations.

Let's Be Cops rounded out the day's unchanged top five with $0.457 million. Fox's low-budget action comedy increased 31 percent over Monday and was down only 21 percent from last Tuesday. Thanks in part to continued strong holding power; Let's Be Cops has grossed $73.86 million through 35 days of release.

Read more

Subscribe to Articles Feed