2d Films Hurt 3d Leader Reald
07 February 2013
2d Films Hurt 3d Leader Reald
3D is turning out to be something less than the expected next big thing for the movie industry. One need look no further for the reality of that statement, than the latest results of RealD, the principal company providing 3D technology for theaters and which benefits from the surcharges on 3D ticket sales. Filing its third-quarter results, the company said it lost $4.2 million during the period versus a net profit of $2.8 million during the same quarter a year ago when 3D was flying high. RealD Chairman and CEO Michael Lewis attributed the downturn to the dominance in the quarter of such 2D blockbusters as Skyfall and Twilight: Breaking Dawn Part 2. However, Lewis observed that 3D continues to perform well abroad and that RealD's technology is increasingly expanding in overseas cinemas. Pointing out that the company is escalating its Stock-repurchase program, Lewis said that the strategy underscore[s] our confidence in RealD's future growth opportunities.
Contactmusic
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