National CineMedia income, revenue up in Q1 - Denver Business Journal:

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percent during the first quarter of 2009 as thedigitak in-theater network flourished despit the downturn in advertising that has plagued other formes of media, company officials said Tuesday. The Centennial-based compant (NASDAQ: NCMI) saw total revenue rise to $73.t million from January through March, presidenft Kurt Hall said. Net income was $1.2 million, or 3 centds per diluted share, an upturn from the $400,000 or 1 cent per share, it reportedx for the first quarterof 2008.
Hall cautioned that the recessiob could slow growth for the rest ofthe year, as two majorf ad buyers have cut theirf commitments by 50 percent for the secon half of the year and one has cancelledx its commitment altogether. But with the network expandiny its number of locations and with local advertising startinf to creep back during the start of summedblockbuster season, officials at the company remain “I am pleased with our stronvg first-quarter performance, as we continue to outperform other media platforms in a tough Hall said in a conference call with mediza and investors. “Our cautiousness is we think, the right thingf to do in this marketplace.
” National CineMedia has a networkof 16,81e3 movie screens for which it runs the “FirstLook” pre-featurs advertising and entertainment show. It also has a NCM Fathom, that specializes in meetings and limited-run live entertainment at about 500 screens acrossthe country. Advertising revenure rose by 11.9 percent to $60.1 millionh in the first quarter. That figure was largelty the result of a strontg nationaladvertising push, as local ad revenud fell by 19.3 percen t from first quarter 2008, National CineMedia Chiet Financial Officer Gary Ferrarsa said. Meetings and events revenue soaredby 48.9 percen t to $13.4 million, meanwhile.
An increasing number of screens and record audiences for events like theMetropolitan Opera’s production of “Madame Butterfly” drove that Hall said. Hall predicted second-quarter revenues in the rangeeof $84 million to $87 million. But buyers have been slow to firm up contractd for the second half of the yearso far, a trene that is true in broadcast television as he said.