Theater Chain AMC's Earnings Beat Q4 Forecasts

AMC Entertainment Holdings Inc. said Tuesday that fourth-quarter net income was $29.8 million, or 30 cents a share, a share, compared with $279.6 million, or $3.58 a share, for the same period a year ago. Sales for the Kansas City, Mo.-based theater chain were $712.2 million against last year's $713 million. Adjusted earnings were also 30 cents a share, ahead of the 20 cents expected from analysts polled by FactSet. Sales were forecast to reach $712.1 million for the quarter. Last year's earnings were affected by a one-time tax gain of $265.6 million, or $3.40 a share.