Entertainment Companies Announce Earnings Results, Financing Plans, and New Leadership Appointments - Research Report on Disney, Time Warner, Cinemark, DreamWorks, and Regal Entertainment Group
NEW YORK, August 9, 2013 /PRNewswire/ --
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Today, Analysts' Corner announced new research reports highlighting Walt Disney Co. (NYSE: DIS), Time Warner Inc. (NYSE: TWX), Cinemark Holdings Inc. (NYSE: CNK), DreamWorks Animation SKG Inc. (NASDAQ: DWA), and Regal Entertainment Group (NYSE: RGC). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Walt Disney Co. Research Report
On August 6, 2013, Walt Disney Co. (Disney) reported its Q3 FY 2013 (period ended June 29, 2013) financial results. Revenue increased 4.4% YoY to $11.6 billion. Net income was up 0.9% YoY to $1.8 billion. Diluted EPS was stable at $1.01 compared to Q3 FY 2012. Robert A. Iger, Chairman and CEO of The Walt Disney Company, said, "We are pleased with the results we delivered in the third quarter. We are confident that our strategy of creating high-quality branded content positions us well for the future." The Full Research Report on Walt Disney Co. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/fa77_DIS]
Time Warner Inc. Research Report
On August 5, 2013, Time Warner Inc. (Time Warner) announced the promotion of David Levy to the position of President of Turner Broadcasting System, Inc. (Turner) - a Time Warner company. According to the Company, in his new role, which is effective immediately, Levy will also supervise Turner's domestic entertainment and animation & young adults networks and business portfolios in addition to his current role in leading the Company's advertising sales, affiliate sales and sports units. Time Warner also informed that Levy will also oversee all the creative and business activity of the Turner signature networks - TBS, TNT, Turner Classic Movies, truTV, Cartoon Network, Boomerang and Adult Swim, as well as their digital brand extensions, in addition to all of the Company's domestic revenue. Time Warner stated that prior to this new role Levy had worked as president of sales, distribution and sports for Turner Broadcasting System, Inc. and have been associated with Turner for more than 25 years. The Full Research Report on Time Warner Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/085d_TWX]
Cinemark Holdings Inc. Research Report
On August 6, 2013, Cinemark Holdings Inc. (Cinemark Holdings) reported its Q2 2013 financial results. Revenue increased 11.7% YoY to $725.6 million. Net income was $20.3 million or $0.18 per diluted share, down compared to net income of $51.6 million or $0.45 per diluted share in Q2 2012. According to the Company, net income for Q2 2013 includes a loss on early retirement of debt of approximately $72.3 million, before income taxes. Cinemark's CEO, Tim Warner, said, "The diversity and breadth of the second quarter's film product resulted in an all-time North American industry box office record of over $3 billion dollars, an increase of nearly 8% from the year ago period. With more than 500 theatres and nearly 5,800 screens, we achieved record worldwide admissions revenues of $464.5 million, an increase of 11.1%, and over-indexed the North American industry by approximately 320 basis points." The Full Research Report on Cinemark Holdings Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/b2c2_CNK]
DreamWorks Animation SKG Inc. Research Report
On August 5, 2013, DreamWorks Animation SKG Inc. (DreamWorks) announced that it plans to offer $300 million aggregate principal amount of a new series of senior notes due 2020 (the Notes). According to the Company, the Notes will be unsecured, unsubordinated obligations of DreamWorks Animation and will be guaranteed by the Company's existing and future domestic subsidiaries that guarantee the Company's credit facility. DreamWorks informed that the net proceeds from the offering will be used to prepay the outstanding loans under its revolving credit facility, including accrued and unpaid interest thereon and intends to use any additional net proceeds, if any, for general corporate purposes. The Company further stated that the Notes and the related subsidiary guarantees, as reported, have not been registered under the Securities Act and may not be offered or sold in the US without registration or an applicable exemption from the registration requirements. The Full Research Report on DreamWorks Animation SKG Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/b69d_DWA]
Regal Entertainment Group Research Report
On July 25, 2013, Regal Entertainment Group (Regal Entertainment Group) reported its Q2 2013 financial results. Total revenue increased 16.5% YoY to $842.3 million. Net income was $36.1 million or $0.23 per diluted share, compared to net income of $37.2 million or $0.24 per diluted share in Q2 2012. CEO of Regal Entertainment Group, Amy Miles, stated, "We are pleased to report that a healthy second quarter box office environment combined with the successful integration of our recent acquisitions enabled us to achieve all-time quarterly records in admissions revenue, total revenues and Adjusted EBITDA. We are also encouraged by the early third quarter box office results and remain optimistic about the prospects for the remainder of the year." The Company also stated that its Board of Directors has approved a cash dividend of $0.21 per Class A and Class B common share, payable on September 17, 2013, to stockholders of record as on September 9, 2013. The Full Research Report on Regal Entertainment Group - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/bb0f_RGC]
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