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.