Cinemark posts revenue rise

Cinemark USA on Tuesday said revenues rose 19% for the fourth quarter to $86.3 million, and cash flow rose 15% to $12.8 million.

The Dallas-based exhib said revenue gains stemmed from the addition of 237 screens during the calendar year, mostly in the U.S., and said net income for the quarter rose to $4.6 million, up 15%, including a $7.7 million pre-tax gain on the sale of its stake in a homevideo retail business.

For the full year, revenues rose 14% to $341.7 million, and cash flow rose 10% to $59.5 million. But net income fell 60% to $5.2 million, because of a $9.9 million after-tax loss from the early retirement of debt.