By Christine Barnhouse
The movie business runs in cycles. Winter is typically the slower season, with studios generally releasing movies that wouldn’t be able to compete with summer blockbusters.
In the first quarter of 2016 (ending March 31st), Cinemark (CNK) made $432,820 on admissions, $237,815 on concessions (popcorn is rather expensive), and $31,234 on other, equaling a total revenue of $704,869 for the first quarter.
This is up from the first quarter of 2015, where total revenues equaled $645,398.
Expenses that Cinemark had in the first quarter of 2016 included $232,914 for film rentals and advertising, which is up from 2015.
After all expenses were payed, Cinemark’s net income for the first three months of 2016 was $58,525, an increase of $16,004 from the first quarter of 2015.
Next up, we’ll look at the summer quarter of 2016 and see the difference that summer blockbuster season brings to Cinemark.