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Profit down on lower box-office receipts

Tuesday, Oct. 26, 2004 | 11:03 a.m.

KNOXVILLE, Tenn. -- Regal Entertainment Group, the country's largest owner of movie theaters and a big operator in Las Vegas, today said its profit fell 37 percent in the third quarter, as box office receipts slipped.

The company said its net income for the period ended Sept. 30 dropped to $27.8 million, or 19 cents a share. That's down from the prior year's $44.2 million, or 30 cents a share.

Wall Street expected earnings of about 22 cents a share, according to the average analyst estimate in a Thomson First Call survey.

Total revenue fell 3 percent to $611.3 million from $629.9 million.

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