RealD Inc. (NYSE:RLD) reported net income above Wall Street’s expectations for the first quarter. RealD Inc is engaged in global licensor of 3D technologies. Its extensive intellectual property portfolio enables a premium 3D viewing experience in the theater, the home and elsewhere.
RealD Earnings Cheat Sheet for the First Quarter
Results: Net income for RealD Inc. rose to $9.6 million (17 cents per share) vs. $8.8 million (9 cents per share) in the same quarter a year earlier. This marks a rise of 9.1% from the year earlier quarter.
Revenue: Fell 7.7% to $59.6 million from the year earlier quarter.
Quoting Management: “Continued growth in 3D box office receipts, led by the outperformance of international markets, contributed to RealD’s strong financial results for the quarter,” said Michael V. Lewis, Chairman and Chief Executive Officer of RealD. “We achieved record results in GAAP net income attributable to common stockholders and Adjusted EBITDA, which increased 226% and 137% year-over-year, respectively, underscoring the operating leverage inherent in our business model.”
The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of 8 cents versus a mean estimate of a loss of 16 cents per share.
Competitors to Watch: Ballantyne Strong, Inc. (AMEX:BTN), Avid Technology, Inc. (NASDAQ:AVID), IMAX Corporation (NASDAQ:IMAX), Chyron Corporation (NASDAQ:CHYR), Dolby Labs (NYSE:DLB), Best Buy (NYSE:BBY), Regal Entertainment (NYSE:RGC), Cinemark (NYSE:CNK), Carmike (NASDAQ:CKEC) and Digislide Holdings Ltd (NYSE:DGI).
(Source: Xignite Financials)