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Cinemark Holdings Inc. (CNK) filed Quarterly Report for the period ended 2011-09-30.
Cinemark Holdings Inc. has a market cap of $2.35 billion; its shares were traded at around $20.58 with a P/E ratio of 16.8 and P/S ratio of 1.1. The dividend yield of Cinemark Holdings Inc. stocks is 4.1%.
This is the annual revenues and earnings per share of CNK over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CNK.
Highlight of Business Operations:
We generate revenues primarily from box office receipts and concession sales with additional revenues from screen advertising sales and other revenue streams, such as vendor marketing promotions and electronic video games located in some of our theatres. Our contracts with NCM have assisted us in expanding our offerings to domestic advertisers and broadening ancillary revenue sources such as digital video monitor advertising, third party branding, and the use of our domestic theatres for alternative entertainment, such as live and pre-recorded concert events, the opera, sports programs and other cultural events. Films leading the box office during the nine months ended September 30, 2011 included Rio, Fast Five, Thor, Pirates of the Caribbean: On Stranger Tides, The Hangover Part II, Kung Fu Panda 2: The Kaboom of Doom, Cars 2, X Men: First Class, Super 8, Bridesmaids, Transformers: Dark of the Moon, Harry Potter and the Deathly Hallows: Part 2, Rise of the Planet of the Apes, The Help, and Captain America: The First Avenger. Our revenues are affected by changes in attendance and average admissions and concession revenues per patron. Attendance is primarily affected by the quality and quantity of films released by motion picture studios. Films scheduled for release during the remainder of 2011 include Twilight: Breaking Dawn Part One, Paranormal Activity 3, Puss in Boots, Happy Feet Two, Tower Heist, Jack and Jill, The Muppets, Mission: Impossible — Ghost Protocol, Sherlock Holmes 2, The Adventures of Tintin and Alvin and the Chipmunks: Chipwrecked, among other films.Revenues. Total revenues increased $79.8 million to $640.0 million for the three months ended September 30, 2011 (“third quarter of 2011”) from $560.2 million for the three months ended September 30, 2010 (“third quarter of 2010”), representing a 14.2% increase. The table below, presented by reportable operating segment, summarizes our year-over-year revenue performance and certain key performance indicators that impact our revenues.
Revenues. Total revenues increased $127.5 million to $1,743.7 million for the nine months ended September 30, 2011 (“the 2011 period”) from $1,616.2 million for the nine months ended September 30, 2010 (“the 2010 period”), representing a 7.9% increase. The table below, presented by reportable operating segment, summarizes our year-over-year revenue performance and certain key performance indicators that impact our revenues.
We primarily collect our revenues in cash, mainly through box office receipts and the sale of concessions. In addition, a majority of our theatres provide the patron a choice of using a credit card or debit card in place of cash. Because our revenues are received in cash prior to the payment of related expenses, we have an operating “float” and historically have not required traditional working capital financing. Cash provided by operating activities was $292.6 million for the nine months ended September 30, 2011 compared to $153.9 million for the nine months ended September 30, 2010. The cash provided by operating activities was lower for the nine months ended September 30, 2010 primarily due to a higher film rental liability at December 31, 2009 attributable to the record-breaking domestic box office performance during the latter part of December 2009.
We plan to fund capital expenditures for our continued development with cash flow from operations, borrowings under our senior secured credit facility, and proceeds from debt issuances, sale leaseback transactions and/or sales of excess real estate. Our investing activities have been principally related to the development and acquisition of theatres. New theatre openings and acquisitions historically have been financed with internally generated cash and by debt financing, including borrowings under our senior secured credit facility. Cash used for investing activities was $189.3 million for the nine months ended September 30, 2011 compared to $85.8 million for the nine months ended September 30, 2010. The increase in cash used for investing activities was primarily due to the acquisition of ten theatres in Argentina for approximately $67.0 million and an increase in capital expenditures. See Note 6 to our condensed consolidated financial statements for further discussion of the acquisition of the Argentina theatres.
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