RealD posts 4Q loss as product revenue drops
RealD loses $4.3M in 4Q as product revenue drops, results beat Wall Street forecasts
LOS ANGELES (AP) -- RealD Inc., which licenses 3-D movie equipment to theaters, posted a fiscal fourth-quarter loss on Thursday as product revenue declined.
The company lost $4.3 million, or 9 cents per share, for the quarter that ended March 31. That compares with profit of $5.5 million, or 10 cents per share, in the year-ago quarter.
Revenue fell 9 percent to $45.4 million. The main drop was in product revenue, which fell to $14.2 million, from $18.4 million a year ago.
Analysts surveyed by FactSet expected a loss of 20 cents per share on revenue of $42.5 million.
The year-ago quarter included a tax benefit of $2.1 million.
The company saw seven 3-D movies released domestically in the most recent quarter, one fewer than a year earlier. It had 22,700 RealD-enabled screens deployed as of March 31, 12 percent more than a year earlier.
For the full year RealD lost $9.7 million, or 20 cents per share, after earning $36.9 million, or 65 cents per share, during the prior year. Revenue fell 12.6 percent to $215.6 million.
RealD shares rose 51 cents, or 3.5 percent, to close at $14.96. They added another 83 cents, or 5.6 percent, to $15.79 in after-hours trading.
