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RealD Inc. (NYSE:RLD) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.66%.
RealD Inc. Earnings Cheat Sheet
Results: Net loss increased to $4.2 million (8 cents per diluted share) in the quarter versus a net gain of $2.83 million in the year-earlier quarter.
Revenue: Decreased 4.34% to $46.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: RealD Inc. reported adjusted net loss of 8 cents per share. By that measure, the company beat the mean analyst estimate of $-0.06. It missed the average revenue estimate of $47.78 million.
Quoting Management: “2D films generated an outsized share of global box office receipts during our third fiscal quarter, which limited our financial results for the quarter,” said Michael V. Lewis, Chairman and Chief Executive Officer of RealD. “Importantly, our continuing focus on growth initiatives in international markets recently led to two major exhibitor contracts in Russia, one of the highest grossing countries for 3D box office receipts. We announced today that Russian exhibitors Karo Film and Kinomax will equip up to a combined 300 RealD systems across their circuits, providing the industry’s brightest 3D presentation to their moviegoing customers.”
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