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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/28/2014
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Table of Contents

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

25. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

 

    2012  
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
    Full Year  

Revenues

  $ 578,818      $ 649,606      $ 633,573      $ 611,534      $ 2,473,531   

Operating income

  $ 89,488      $ 113,909      $ 94,153      $ 86,152      $ 383,702   

Net income attributable to Cinemark Holdings, Inc.

  $ 42,104      $ 51,638      $ 47,385      $ 27,822      $ 168,949   

Net income per share attributable to Cinemark Holdings, Inc.’s common stockholders:

       

Basic

  $ 0.37      $ 0.45      $ 0.41      $ 0.24      $ 1.47   

Diluted

  $ 0.37      $ 0.45      $ 0.41      $ 0.24      $ 1.47   

 

     2013  
     First
Quarter
     Second
Quarter  (1)
     Third
Quarter
     Fourth
Quarter(2)
     Full Year  

Revenues

   $ 547,773       $ 725,622       $ 757,566       $ 651,933       $ 2,682,894   

Operating income

   $ 65,629       $ 134,017       $ 135,192       $ 80,653       $ 415,491   

Net income attributable to Cinemark Holdings, Inc.

   $ 32,594       $ 20,265       $ 80,019       $ 15,592       $ 148,470   

Net income per share attributable to Cinemark Holdings, Inc.’s common stockholders:

           

Basic

   $ 0.28       $ 0.18       $ 0.69       $ 0.13       $ 1.28   

Diluted

   $ 0.28       $ 0.18       $ 0.69       $ 0.13       $ 1.28   

 

(1) 

Net income attributable to Cinemark Holdings, Inc. for the second quarter of 2013 includes a loss on early retirement of debt of $72,302 as a result of the redemption of Cinemark USA, Inc.’s 8.625% Senior Notes on June 24, 2013. See Note 12 for additional information.

(2) 

Net income attributable to Cinemark Holdings, Inc. for the fourth quarter of 2013 includes $21,406 of income tax expense related to the sale of the Company’s Mexico subsidiaries, which closed on November 15, 2013.

 

26. SUBSEQUENT EVENT DIVIDEND DECLARATION

On February 14, 2014, the Company’s board of directors declared a cash dividend for the fourth quarter of 2013 of $0.25 per share of common stock payable to stockholders of record on March 4, 2014. The dividend will be paid on March 19, 2014.

 

27. SUBSEQUENT EVENT CHANGES IN SENIOR LEADERSHIP

Effective January 21, 2014, the Company entered into a Second Amended and Restated Employment Agreement (the “Second Amended Agreement”) with Tim Warner, amending the Amended and Restated Employment Agreement between the Company and Mr. Warner dated March 30, 2012. The Second Amended Agreement expires April 1, 2016. Pursuant to the Second Amended Agreement, Mr. Warner will continue to serve as the Company’s Chief Executive Officer and the Company will provide Mr. Warner with a base salary that is subject to annual review by the Compensation Committee for increase (but not decrease). Mr. Warner is eligible to participate in the Cinemark Holdings, Inc. Performance Bonus Plan (the “Bonus Plan”) and he will continue to be eligible to participate in and receive grants of equity incentive awards under the Company’s Amended and Restated 2006 Long Term Incentive Plan (the “Incentive Plan”).

 

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