DCIN Fiscal 2013 Q3 Report Shows Ninefold Increase in Revenues
After today’s closing bell, Digital Cinema Destinations Corp. (“Digiplex”), a fast-growing motion picture exhibitor dedicated to transforming movie theaters into digital entertainment centers, released its fiscal 2013 third quarter financial results for the quarter ended March 31, 2013. A conference call discussing the results is currently in progress. Those unable to attend will be able to replay the call by visiting the investor relations section of Digiplex’s website at www.digiplexdest.com.
To review condensed versions of the company’s balance sheet and income statement, visit http://dtg.fm/MjB5
Digiplex Chairman and CEO Bud Mayo stated, “Our organization’s top priority continues to be achieving disciplined screen growth as we focus on ultimately expanding Digiplex’s footprint to the 100 location/1000 screen goal we set as a corporate milestone. In fiscal Q3 we added two additional theaters with an aggregate of 19 screens in Solon, OH and Sparta, NJ, raising screen count 12% sequentially. It often takes a few quarters to get new locations up-and-running on Digiplex’s comprehensive digital platform.
“Once fully integrated, we focus on further enhancing attendance and theater level cash flow through a disciplined strategy that encompasses offering a wide array of alternative content, including our own curated DigiNext titles. We also deploy a full complement of social media and targeted marketing in order to generate a two-way dialog with both existing and new patrons, driving additional traffic to our theaters.
“In early April, we hosted a ribbon-cutting for the Solon location, highlighting completion of the digital conversion and some additional cosmetic enhancements. Within the 16-plex, we rebranded four of the auditoriums as the Arts Center 4, which is a ‘theater within the theater.’ These auditoriums offer a unique blend of alternative programming, one of our key differentiators, as we stay on the cutting-edge of digital cinema presentation, offering our valued patrons a true ‘peek at the future of theatrical exhibition.’
“Looking ahead, we maintain a robust and active pipeline of potential theater acquisition candidates, and we have the capacity and liquidity to grow utilizing additional capital from our Start Media JV as well as the new shelf offering, which was filed subsequent to quarter-end,” concluded Mr. Mayo.
For more information on Digiplex, visit www.digiplexdest.com