National CineMedia issues disappointing guidance, shares topple
National CineMedia, Inc. (Nasdaq: NCMI) the managing member and owner of a digital in-theatre network, this morning issued second quarter revenue guidance below the Street, sending shares tumbling out of the gate.
The Centennial, Colo.–based firm said it expects the bulk of its revenues to be shifted to the second half of the year on account of sluggish demand in the TV scatter market, its decision to pass on several opportunities with unacceptably low cost per thousand and the reduction of beverage advertising time by one of its member theatre circuits.
Shares skidded 19%, or $3.45, to $15.01 out of the gate. For detailed price information and recent news stories about National CineMedia, click NCMI.
