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The Honolulu Advertiser
Updated at 2:35 p.m., Friday, November 7, 2008

Consolidated Entertainment owner posts net loss

Advertiser Staff

Reading International Inc., the Los Angeles-based company that bought Consolidated Entertainment cinemas in Hawai'i and California, said it had a third-quarter loss from continuing operations as it incurred higher interest, administrative and depreciation expenses.

The company reported it swung to a loss of $2.1 million, or 9 cents a share, in the three months ended Sept. 30. A year earlier it had reported a profit of $870,000 or 4 cents a share.

Reading said the purchase of Consolidated helped boost revenue to $56.5 million from $31.1 million. It bought 181 screens in the Consolidated transaction.