AMC’s Loss Widens After It Restates Assets
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AMC Entertainment Inc. said its fiscal fourth-quarter loss widened after it restated the value of some international assets. Sales, helped by box-office hits, rose 32%.
The net loss widened to $24.2 million, or 67 cents a share, from $18.4 million, or 76 cents, in the fourth quarter last year. Sales rose to $446.4 million, helped by AMC Entertainment’s acquisition of two theater chains, GC Cos. and Gulf States Theatres, the company said.
Shares of AMC Entertainment rose 62 cents to $10.87 on the American Stock Exchange.
From Bloomberg News
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