Regal profit falls; digital upgrade advances
Regal profits are down but they’re going to try to make up for it by speeding up the digital rollout.
Regal Entertainment Group , the largest U.S. movie theater owner, posted sharply lower quarterly profit on Thursday and said improvement might not come until the fourth quarter.
But the company also reported progress in a long-delayed digital upgrade expected to boost sagging attendance at movie theaters.
Second-quarter net income fell to $13.8 million, or 9 cents a share, from $52.7 million, or 33 cents a share, a year earlier.
Read more at the Guradian.