National CineMedia (NASDAQ: NCMI) reported Q4 EPS of $0.23, $0.04 better than the analyst estimate of $0.19. Revenue for the quarter came in at $137.4 million versus the consensus estimate of $139.48 million.

Commenting on the Company’s 2018 operating results and 2019 positioning, NCM President and Interim CEO Cliff Marks said, “Overall, it has been a good year for NCM. I’m pleased that we were able to grow our revenue for the year and finish out 2018 within our guidance estimates. We have made great progress on our strategy as we continued to introduce new Noovie Digital products to enhance our core business, paid down debt, strengthened our relationship with our exhibitor partners, and continued to pave the way for growth long into the future. With the first quarter already looking strong and an exceptional film slate coming up for the rest of the year, we continue to feel optimistic about 2019.”

GUIDANCE:

National CineMedia sees FY2019 revenue of $450-465 million, versus the consensus of $453.2 million.

For the full year 2019, the Company expects total revenue to be up 1.9% to 5.3% and Adjusted OIBDA to be up 0.8% to 5.6% from the full year 2018. The Company expects total revenue in the range of $450.0 million to $465.0 million for the full year 2019, compared to total revenue for the full year 2018 of $441.4 million and Adjusted OIBDA in the range of $207.0 million to $217.0 million for the full year 2019 compared to Adjusted OIBDA for the full year 2018 of $205.4 million. During 2019, the Company expects to record approximately $21.0 million 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.

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