RealD Cinema reporting smaller loss as shares rise
According to the L.A. Business Journal, RealD Cinema, a leader in digital 3D cinema, reported earnings that beat estimates.
Late Tuesday, the Los Angeles company reported a net loss of $5.1 million (12 cents per share) for its fiscal 2011 second quarter ended Sept. 24, compared with a net loss of $5.4 million (-22 cents) a year earlier.
Net revenue increased 69 percent to $65.3 million. RealD, which went public in July, develops and licenses stereoscopic technology used in 3D motion pictures, video games and other multimedia content. The company as of the end of the quarter had deployed approximately 9,300 RealD enabled screens, most of them in the United States and Canada. That’s 182 percent more than a year earlier.