National CineMedia (NASDAQ: NCMI) reported Q2 EPS of $0.05, $0.03 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $113.7 million versus the consensus estimate of $109.18 million.

Commenting on the Company’s first six months of 2018 operating results and second half of 2018 positioning, NCM CEO Andy England said, “It has been a very productive second quarter, and a great first half of 2018. We achieved strong revenue and Adjusted OIBDA growth and continued to attract new and returning advertisers to cinema and to our new Noovie digital ecosystem, all while successfully launching Noovie ARcade, reaching an agreement with Standard General, refinancing our senior secured credit facility, eliminating the AMC stock overhang, and moving our corporate headquarters to a great new modern facility.”

For the full year 2018, the Company updates its outlook of total revenue to be up 1.0% to 5.6% and Adjusted OIBDA to be flat to up 4.8% from the full year 2017. The Company expects total revenue in the range of $430.0 million to $450.0 million for the full year 2018, compared to total revenue for the full year 2017 of $426.1 million and Adjusted OIBDA in the range of $205.0 million to $215.0 million for the full year 2018 compared to Adjusted OIBDA for the full year 2017 of $205.1 million. During 2018, the Company expects to record approximately $21.0 to $23.0 million in integration and other encumbered theater payments from Cinemark and AMC associated with the Rave Theatres and Carmike Theatres acquisitions, which are recorded as a reduction of an intangible asset.

GUIDANCE:

National CineMedia sees FY2018 revenue of $430-450 million, versus the consensus of $440.12 million.

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