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AMC Entertainment Holdings, Inc. Previews Second Quarter 2017 Results, Announces Cost Reduction and Revenue Enhancement Initiatives, Issues Additional 2016 Pro Forma Financials and Provides Guidance for Full Year 2017

LEAWOOD, Kan.--(BUSINESS WIRE)--

AMC Entertainment Holdings, Inc. (AMC) (“AMC” or “the Company”) today announced the following:

Preview of Second Quarter 2017 Results

AMC previewed results for the second quarter ended June 30, 2017. The preliminary financial results are subject to finalization by the Company, including purchase accounting adjustments for acquisitions where the purchase price allocation is preliminary.

  • AMC expects to report total revenues for the three months ended June 30, 2017, to be between $1,200 million and $1,204 million compared to $764.0 million for the three months ended June 30, 2016.
  • The Company expects to report a net loss for the second quarter of 2017 of between $178.5 million and $174.5 million compared to net earnings of $24.0 million for the second quarter of 2016. Included in the net loss for the second quarter of 2017 is a $202.6 million pre-tax impairment charge related to AMC’s National CineMedia, LLC (NCMI) (“NCM”) investment. As previously disclosed on SEC Form 10-Q for the three-month period ended March 31, 2017, because the market value of our investment in NCM further declined significantly below our carrying value, the decline in value is considered other than temporary. Due to the significant decline in value of the publicly quoted price per share of NCM, Inc., this impairment charge was recorded for all the units and shares owned in NCM.
  • AMC expects to report a loss per diluted share for the second quarter 2017 of between $1.36 and $1.34 compared to diluted earnings per share of $0.24 for the second quarter 2016.
  • The Company expects to report Adjusted EBITDA for the second quarter of 2017 of between $134.0 million and $136.0 million compared to $129.6 million in the same period a year ago. Adjusted EBITDA is a non-GAAP financial measure, and a table...

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