AMC Profit Jumps on Box-Office Hits
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AMC Entertainment Inc., the second-largest U.S. operator of movie theaters, said fiscal third-quarter earnings rose nearly ninefold as it raised ticket prices and benefited from hits such as the “The Lord of the Rings.”
Net income rose to $11.7 million, or 2 cents a share, from $1.33 million, or a loss of 13 cents after allowing for the payment of preferred dividends. Sales rose 9.5% to $471.6 million, the Kansas City, Mo., firm said. The latest quarter, which ended Jan. 1, had seven more days than the year-earlier quarter.
Shares of AMC fell 19 cents to $15.60 on the American Stock Exchange.
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